Soybeans - Soybean pods on plant by Mailson Pignata via iStock

Soybean Price Target Reached, Now What?

Trent Klarenbach Klarenbach Research Mon Jul 15, 2024
Soybeans - Soybean pods on plant by Mailson Pignata via iStock

Soybeans reached our price target published in July 2023, identified using our Head & Shoulders measured move price approach

Remember this is a minimum price target, and lower prices are common.

 

Additional details can be found in todays' market update video: 

 

https://youtu.be/iS9MIJDG1DY

 

 

Zooming out, we can see that numerous times, the range of 800 to 1040ish level has acted as resistance and, more recently, support.

Previous resistance often acts as support.

Will 1040 bring in buyers?

Or will we see soybean prices with an 8 in front of it?

 

Trent Klarenbach, BSA AgEc, publishes the Klarenbach Grain Report and the Klarenbach Special Crops Report.

                                                                                                                                                                                                                                                                                                                                                                                                                                 

Klarenbach Research

                                                                                                                                                                                                                                                                                                                                                                                                                                                                    

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On the date of publication, Trent Klarenbach did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.