NewsSignals AI analysis·Reuters·
CBOT soybeans may retest support at $12.38-1/2
Grade Bbearish AI signal$SX26
CBOT November soybeans may retest $12.38-1/2 per bushel support, with a break lower potentially exposing further downside toward $12.28 to $12.33-3/4.
The contract narrowly missed its $12.33-3/4 downside target, while technical analysis identifies additional support at $12.30 and a lower channel target at $11.88-1/4.
Continued weakness could pressure soybean prices further, although a break above $12.49 may open a recovery toward $12.52-1/2 to $12.58-1/4.
Bullish strength: 25/100
- A break above $12.49 could open a recovery toward $12.52-1/2 to $12.58-1/4.
Bearish strength: 75/100
- The contract may retest support at $12.38-1/2 per bushel.
- A break below support could expose the $12.28 to $12.33-3/4 range.
- Daily chart analysis identifies a lower channel target of $11.88-1/4.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.