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July 17th, Economies analysts’ latest opinion today: CBOT soybean prices continue to rise and test 1385.00, which represents the resistance of the dominant horizontal range in intraday trading, and there is a possibility of a bearish rebound, visiting the support line of the range at 1311.70.
So far, we still think that today will continue to consolidate until the price successfully breaks one of the above levels to clearly determine its next target. Negative factors, will push the price down towards 1266.30 as the next downside target.
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Today’s expected trading range is between 1360.00 support and 1400.00 resistance.
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