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NewsCommodities

TECHNICALS-CBOT soybeans biased to test support at $11.64

ReutersMar 20, 2026 3:25 AM

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SINGAPORE, March 20 (Reuters) - The CBOT soybean May contract SK26 is biased to test a support at $11.64 per bushel, a break below could trigger a fall into the $11.58 to $11.61-1/4 range.

A short uptrend has been developing within a channel, the upper channel line of which establishes resistance around $11.71.

The channel is supposed to remain intact, unless the bullish momentum is much stronger than expected. Based on this assumption, the market tends to fall toward the lower trendline around $11.52-3/4.

A break above $11.71-3/4 could lead to a gain at $11.80-3/4.

Wang Tao is a Reuters market analyst for commodities and energy technicals. Views expressed are his own.

No information in this analysis should be considered as being business, financial, or legal advice. Each reader should consult their own professional or other advisers for business, financial, or legal advice regarding the products mentioned in the analyses.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

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