TECHNICALS-CBOT soybeans to retrace into $10.56-1/2 to $10.59-1/2 range
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The CBOT soybean March contract is expected to retrace into a range of $10.56-1/2 to $10.59-1/2 per bushel after failing to break resistance at $10.68-1/2. A break above this level could lead to gains up to $10.72-3/4 to $10.77-3/4, while a break below $10.57-1/2 may result in a decline to $10.37-3/4 to $10.47-1/4. Current market signals are neutral, indicating a temporary range-bound situation.
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