Bullish CME Soybeans runs out of steam at $1,439; currently at $1,435.25 per bushel

After closing the previous trading day at $1,427.5, the Soybeans future is up to $1,435.25 per bushel, which makes for a move of 0.54%/$7.75 today.

United States JOLTs Job Openings (Mar) is next today at 14:00 UTC.

Meanwhile, United States ISM Manufacturing PMI (Apr) released yesterday at 14:00 UTC with a figure of 47.1, while the previous figure was 46.3. United States ISM Manufacturing Prices (Apr) came out at 53.2, while a consensus of analysts was expecting 49. United States ISM Manufacturing Employment (Apr) released yesterday at 14:00 UTC with a figure of 50.2, while the previous figure was 46.9.

Soybeans's lower Bollinger Band® is at $1,399, indicating that the market is oversold and fertile for new buyers.

Overall, looking at the technical analysis landscape, it seems the Soybeans future might continue pointing upwards in the short term.

A look at other Grains also shows upside as Corn is up 0.68% to $588.5. Oats rises 1.48% to trade around $309.25. Rough Rice is up 0.48%.

Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Crude Oil Inventories is projected to outperform its last figure with -1,000,000. It previously stood at -5 million; data will be released tomorrow at 14:30 UTC.

Also worthy of note, United States Interest Rate is expected tomorrow at 18:00 UTC. United States ADP Nonfarm Employment Change (Apr) is expected tomorrow at 12:15 UTC.

Trading mostly sideways for 2 months. Soybeans is now trading 6.52% below its 3-month high of $1,746.75.