Bullish sentiment helps propel Soybeans to 3.71% gain

A quick look at Friday: with a daily low of $1,289.5, CME Soybeans closed Friday at $1,340.25 per bushel, after ending Thursday at $1,292.25 and gaining $48 (3.71%).

CME Soybeans's notable support and resistance levels: although Soybeans is appreciating today after rising as high as $1,347.25, price action is now slowing and consolidating around $21.58 below the $1,361.83 resistance level. Having stamped out a session range of $1,289.5 to $1,347.25, Fibonacci-inclined CME Soybeans traders were highly concentrated around active Fibonacci resistance at $1,312.64.

This rally in Soybeans's price coincides with other Grains as notably, Corn rose 4.05% Friday and closed at $574.5. Rough Rice went up by 0.39% Friday, and closed at $15.4.

Though CME Soybeans is going up, other Grains are underperforming — Oats is down to $406.75, losing $3, after ending the previous session around $409.75.

The Soybeans future hit a significant low of $1,177.75 around 11 days ago, but has since recovered 9.72%.