SINGAPORE: The CBOT soybean May contract may drop into $14.47 to $14.54-3/4 range, as it faces a strong resistance at $14.72-1/4 per bushel.
The resistance is strengthened by a similar one established by a falling channel.
CBOT soybeans may rise into $14.40-1/2 to $14.47 range
Chances are high that a decent correction occurs around these levels, which has been absent for a few days. A break above $14.72-1/4 could lead to a gain to $14.78-3/4.