Dry South American Weather Rallies Soybeans
Feb 04, 2013
A mixed trade was the result today with corn and wheat ending lower and soybeans continuing its march higher. South American weather remains the driving force behind the soybean rally. Hot, dry weather will persist this week giving the bulls some fuel to push the market higher. The $15 level on soybeans will be the area to watch as resistance is expected to slow the rally. Corn and wheat missed expectations for weekly export inspections, while soybeans once again exceeded expectations. Tune into today's episode for a full recap.
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