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Saturday, June 3, 2023

CBOT soybeans may drop into $14.47 to $14.54-3/4 range

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.

CBOT soybeans may drop into .47 to .54-3/4 range

Source: Brecorder

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