Soybean prices are trending downward, nearing a new target of $958 as they continue to navigate within a bearish channel. A breach of this level could push prices further down to $945. The EMA50 indicator continues to reinforce this negative outlook. However, if prices exceed $978, they may recover temporarily, potentially reaching the channel’s resistance near $1007 before another decline.
Today’s trading range is projected between $950 and $980.
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