Tentatively higher from an earlier low of $1,416, CME Soybeans is up to $1,425 per bushel today, adding $8, or 0.56%, to yesterday's closing price of $1,417.
United States Existing Home Sales (Oct) is next today at 15:00 UTC.
The Soybeans future upside coincides with further encouraging market factors as highly important Initial Jobless Claims data from United States beat analyst expectations of 225,000 with a reading of 222,000.
At the same time, United States Philadelphia Fed Manufacturing Index (Nov) came out at -19.4, while a consensus of analysts was expecting -6.2. United States Building Permits (Oct) released yesterday at 13:30 UTC with a figure of 1.53 million, while the previous figure was 1.56 million.
Soybeans formed a session range of $1,416 to $1,428 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $1,419.62. The Soybeans future chart analysis: Soybeans broke through the $1,425.17 resistance, climbing 17 cents above it.
A look at other Grains also shows upside as Corn is up 0.56%. Rough Rice added 0.25% to its value, now trading at $17.77. Oats improves 0.7% to trade around $395.5.
The market is looking forward to the release of new data: United States Existing Home Sales (Oct) is expected today at 15:00 UTC.
Trading mostly sideways for a month. Soybeans reached a significant high of $1,746.75 around 5 months ago but has lost 18.88% since then.