Traders love soybeans, and the market showed why last week. After a punishing collapse, November futures posted a 10% rally off Thursday's lows. Given the magnitude of the sell off, it doesn't look like much on the chart, but it revived hopes harvest lows are in.
Whether they are likely depends on outside markets for now. If the Dow and crude oil can hold last week's lows, beans could be ready to attempt a post-harvest rally. If not, there are more downside price targets on the nearby chart below $8.
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