Soybeans have now recovered half of the general downtrend

Soybeans have done much better than anyone expected this week. Gains of 46 1/2 cents have been made over these three days. Today's trade was to a new high for this two-month uptrend, the best pricing since August 30. The day's close, near the day's high, was the best since August 25. Heck, on top of that today's trade has surpassed the mid-way point of this whole May to November downtrend at 1319 1/4. The bear argument is based on trend yields for Brazil and Argentina. For now, as we approach January, that is not in the forecast. Outside markets were also higher today.

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