Soybean Price Resumes Decline, Testing Key Support Levels

Soybean price has exhibited a bearish bounce, breaching the crucial level of 1330.00 and subsequently settling below it. This resurgence reinforces the scenario of a bearish trend, with initial targets set at 1311.70. It is imperative to closely monitor this level, as a breach could potentially propel the price towards 1295.00 in the near term.

The anticipation is for further decline in the upcoming sessions, contingent on the price’s ability to sustain levels below 1330.00.

The expected trading range for today is forecasted between the support at 1300.00 and resistance at 1335.00, underscoring the prevailing bearish sentiment.