SINGAPORE: CBOT soybean January contract may break a support at $11.44-1/4 per bushel, and fall into the range of $11.29-1/2 to $11.37-1/2.

The fall from the Nov. 30 high of $11.99 consists of three waves.

The third wave labeled c is unfolding towards its target zone of $11.16-1/4 to $11.37-1/2, formed by its 100pc and the 61.8pc projection levels.