CBOT soybeans may test support at $12.74-3/4
SOYB•The CBOT November soybean contract may test support at $12.74-3/4 per bushel; a break below could open the way toward $12.66-1/2. Resistance is at $12.82-3/4, with a break above potentially leading to $12.87-3/4 to $12.92-1/2.
1. Soybean price levels
The CBOT November soybean contract may test support at $12.74-3/4 per bushel, and a break below could open the way toward $12.66-1/2. Resistance is at $12.82-3/4; a break above may lead to a gain into the $12.87-3/4 to $12.92-1/2 range. A bearish pattern appears more reliable after the market broke support at $12.81-3/4, opening the way toward $12.50-1/2, a level indicated by a rising channel.
