SINGAPORE: The CBOT soybean July contract may test a support at $13.77 per bushel, a break below which could cause a fall to $13.56.
The contract failed twice to break a resistance at $14.19. The failure suggests a completion of the bounce from the low of $13.23-1/2. It is possible that the contract falls towards this low over the next few days.
A break above $14.19 could lead to a gain to $14.45-1/4.
Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
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