Soybeans support at 1312/11 held the downside for a move towards the 1335 target. We topped exactly here but may just edge as far as the 100 day moving average at 1337 today. Unlikely we make it any further, but if we reach as far as resistance at 1343/44 look for a selling opportunity with stops above 1347.
Below 1324 is less positive and meets 1318 before support at 1312/11. This could hold the downside again today but longs need stops below 1307. Next support at 1300/98. If this does not hold the downside look for a buying opportunity at 1290/89.
Weekly outlook: Overbought on the daily chart so only above 1346 is positive and can target 1361, 1366 and then 1376/77.