Apr. 23 at 6:05 AM
$ZS Soybean Futures: Watching the 1,200 Level 📈
Price Action: Currently hovering near
$11.85-
$11.90. Resistance is firm at 1,200.
The Spread: Brazil’s record 6.6B bushel crop is hitting port delays, opening a tactical window for US exports.
Tech Factor: AI and CRISPR-edited varieties are boosting yields, but fertilizer inflation is eating margins.
Sentiment: Cautiously Bullish 🐂. The "crush" spread remains strong as domestic renewable diesel demand offsets export volatility.
Will we see a breakout or a consolidation back to 1,150? Post your targets below!
#Soybeans #Commodities #AgriBusiness #FuturesTrading