Soybean Price Faces Negative Pressures – Forecast for November 6, 2024

by Jennifer

Soybean prices are starting today with noticeable negativity, signaling the potential for further decline in the coming sessions. The next key target is the recently recorded low at 960.30$.

As a result, the bearish bias remains the expectation for today. However, if the price manages to break above 1004.00$, it could reverse the current negative momentum and initiate a recovery.

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The expected trading range for today is between 975.00$ support and 1000.00$ resistance.

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Trend Forecast: Bearish

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