Free Trial
JGB TECHS

(U2) Outlook Remains Positive

AUSSIE BONDS

A Touch Cheaper

NZD

Kiwi Struggles For Clear Direction

US TSYS

Flatter Ahead Of CPI

AUD

AUD/USD Dips, But Ranges Remain Tight

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

(X2) Range Base Cleared

SOY TECHS
  • RES 4: $1584.75 - High Jun 9 and the bull trigger
  • RES 3: $1556.75 - High Jun 17
  • RES 2: $1507.75 - High Jun 30
  • RES 1: $1399.25 - Low Jun 24 and recent breakout level
  • PRICE: $1347.00 @ 14:52 BST Jul 5
  • SUP 1: $1325.50 - Low Jan 27
  • SUP 2: $1300.00 - Psychological round number
  • SUP 3: $1276.00 - Low Jan 18
  • SUP 4: $1262.75 - Low Dec 30 2021

Soybean futures have cleared the key support area highlighted by; $1403.00, Feb 25 low, $1394.00, Apr 1 low and $1399.25, Jul 1 low. These lows marked the base of a range that started in February. The break through the base strengthens bearish conditions and sets the scene for weakness towards the 1300.00 handle. On the upside, key resistance has been defined at $1507.75, the Jun 30 high. Initial resistance is seen at $1399.25.

141 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: $1584.75 - High Jun 9 and the bull trigger
  • RES 3: $1556.75 - High Jun 17
  • RES 2: $1507.75 - High Jun 30
  • RES 1: $1399.25 - Low Jun 24 and recent breakout level
  • PRICE: $1347.00 @ 14:52 BST Jul 5
  • SUP 1: $1325.50 - Low Jan 27
  • SUP 2: $1300.00 - Psychological round number
  • SUP 3: $1276.00 - Low Jan 18
  • SUP 4: $1262.75 - Low Dec 30 2021

Soybean futures have cleared the key support area highlighted by; $1403.00, Feb 25 low, $1394.00, Apr 1 low and $1399.25, Jul 1 low. These lows marked the base of a range that started in February. The break through the base strengthens bearish conditions and sets the scene for weakness towards the 1300.00 handle. On the upside, key resistance has been defined at $1507.75, the Jun 30 high. Initial resistance is seen at $1399.25.