1. March soybeans remain inside a narrow range, making the swing trading entry less attractive.
2. However, continued hourly closes above $8.75 indicate an advance and test/attempt at $8.84 (or higher) into Thursday, January 28. While this is a small move within the current narrow range, it may lead to a more important move. Will update as the market continues to confirm.
1. Our Wednesday, January 26 March soybean report indicated that hourly closes above $8.75 could be bought for an advance and test/attempt at $8.84 (or higher) into Thursday, January 28.
2. Today’s (Wednesday, January 27) March soybean session advanced and completed the $8.84 upside target, successfully completing the forecast/trade (today’s session high, $8.85).
3. Aggressive can continue to hold any remaining position for the possibility of higher prices. Will message any further entry or indication in March soybeans.