Soybean futures barchart price action suggests cautious

Soybean futures barchart price action suggests cautious optimism as South American weather premium remains in play. “Grain and oilseed prices are so depressed, and the price action so bearish, that any news about a breakthrough for Chinese purchases of U.S. beans could lift the futures market. While prices could fall further due to disappointment, the current levels suggest that there is more upside potential than downside on a percentage basis.” Stocks: 15 20 minute delay (Cboe BZX is real-time), ET. Volume reflects consolidated markets. Futures and Forex: 10 or 15 minute delay, CT. Market Data powered by Barchart Solutions. Fundamental data provided by Zacks and Morningstar . On soybean futures barchart, daily momentum suggests near-term support around $12.18 while macroeconomic headwinds cap rallies.