AgResource Soybean Comment and Analysis
Soybeans Fall on Profit Taking Ahead of Rains Across N Brazil: A US shortened US holiday week and the forecast of rain for Northern Brazil along with Sunday’s too close to call Argentine Presidential election produced long liquidation in soybeans/soymeal. Traders took profits which pulled January soybean futures down to chart-based support at $13.25-13.50. Soymeal…