SINGAPORE: The CBOT soybean November contract may retest a resistance at $12.77-1/2 per bushel, a break above which could lead to a gain to $12.85-1/4.

A falling trendline provides a strong support, which triggered the current bounce.

Based on the sideways move over the past two weeks, the bounce may extend further.

Support is at $12.64-3/4, a break below which could open the way towards $12.54-1/4.

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.