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Soybean futures at the CBOT posted solid gains over the past month on Argentine weather concerns. Analysts see technical upside toward $10.80 and $12 per bushel, but say fundamentals are weakening as Brazil's crop grows and spring acreage competition with corn looms.
Technical strength is offset by bearish fundamentals such as larger Brazilian supply and high old-crop stocks, so soybean and meal prices may be vulnerable to a spring selloff despite the rally.
grainews.caGFM Network NewsFeb 21, 2018Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
