Soybeans Maintain Strength Despite Intraday Volatility

Thursday, 11 July 2024, 21:58

Soybeans experienced fluctuations on Thursday but ultimately closed with a positive momentum. Despite a midday challenge from bears, bulls managed to keep the market steady, resulting in a closing price up to 3 ¾ cents higher. Notably, front month Soymeal saw a significant increase of 60 cents to $3.20/ton, contrasting with a decline in other contracts. The resilience of the bulls suggests a bullish sentiment prevailing in the soybean market.

Barchart — Soybeans Maintain Strength Despite Intraday Volatility

Soybeans Find Support Into The Close

Soybeans had an up and down, and then back up again session on Thursday. Bulls fended off a midday barrage from the bears, with contracts closing steady to 3 ¾ cents higher. Soymeal ended Thursday with front months up 60 cents to $3.20/ton, as other contracts were down 90 cents...

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Soybeans Find Support Into The Close

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