Soymeal Reaching Upside Target, Soybeans Sitting at Resistance

The soybean chart is interesting. This market is still in a four month sideways range. The recent two months have been limited to that 1478 1/2 peak from last week. Today's trade could be right next to that resistance. Bulls will note the close is what is important. Today's close would be better than last week's trade. It would be the fifth best close of this trade since July. The mid-point of this sideways trade is 1437 1/4.

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