After six days of persistent declines, the Soybeans future stabilises around $1,435.25

Soybeans trades at $1,435.25 per bushel, after ending yesterday at $1,436.

United States Building Permits is next today at 13:30 UTC.

Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, the Soybeans future's upper Bollinger Band® is at $1,503.8 and the lower is $1,436.6.

With market volatility ebbing, the current technical outlook indicates the Soybeans future will remain range-bound for the immediate future.

Meanwhile, mixed performances are seen in other Grains as Rough Rice is trading around $17.25 (down 6 cents).

Moreover, United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of -0.1%; data will be released tomorrow at 12:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -1.67 million. It previously stood at -4.58 million; data will be released tomorrow at 14:30 UTC. United States Building Permits is scheduled for today at 13:30 UTC.

Trading mostly sideways for 2 months. Soybeans has fallen back around 17.79% over the past 10 months, from a notable high of $1,746.75.