Technicals (January) January soybeans seem to have found their home within our “meat grinder zone” that we outlined in recent videos, along with the 20-day moving average. The low end of that comes in from 1112 1/2-1116 1/4 and on the resistance side, 1134-1135. Until we see a breakout above or below these levels, expect more sideways chop. Midday yesterday President Trump posted on Truth Social about having a call with President Xi, he mentioned soybeans in the post which shot beans about 8 cents higher, but the spark was quickly put out as prices retreated and three minutes later prices were back to square 1.
Below is a look at historical price averages for March soybean futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results).
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