TECHNICALS-CBOT soybeans to retest support at $11.56-3/4

ReutersApr 14, 2026 6:12 AM

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SINGAPORE, April 14 (Reuters) - The CBOT soybean May contract SK26 would retest a support at $11.56-3/4 per bushel, a break below which may open the way toward $11.50-1/2.

The deep fall on Monday suggests a completion of the bounce from the March 16 low of $11.45-1/4, which adopted an irregular flat pattern.

The bounce might be driven by a wave B, the second wave of a three-wave cycle from $12.38-3/4. The current wave C is unfolding toward $11.40-1/4.

Resistance is at $11.67-1/4, a break above which could lead to a gain to $11.73-1/2. On the daily chart, a bearish engulfing pattern formed between Monday and April 10, signalling a further drop.

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.

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