CBOT soybeans may drop into $12.93 to $12.98 range
SOYB•The CBOT November soybean contract may drop to $12.93–$12.98 per bushel, technical analysis says.
1. Technical outlook
The CBOT November soybean contract may fall to $12.93–$12.98 per bushel, driven by a wave c. The analysis says the wave is highly likely to move into the range formed by the 138.2% and 161.8% levels, after extending beyond the 100% level of $13.06¼. A confirmed wedge also suggests a target of $12.93.
