Grain TV: Soybean Break Bullish Trend
Soybeans broke the bullish trend line the market’s been following for months, with the previous support line now acting as resistance. Pricing is advised for some of new-crop beans. Corn and soybean basis levels saw strong gains this week.
The bulls were again winners in an exciting week for longs and producers. In last week’s report, I said the markets bias would be near unchanged to a bit lower.