Is the bullish run coming to an end? Soybeans down to $1,329.5 (-0.88%)

While CME Soybeans is in the midst of a 3 day up trend, Bucking the trend and turning lower, Soybeans is down to $1,329.5 per bushel, after ending yesterday at $1,341.25. Overall, a 0.88% loss or $11.75 today.

United States Building Permits is next today at 12:00 UTC.

Soybeans's lower Bollinger Band® is at $1,296.42, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Despite suffering losses in today's session, technical analysis is indicating that CME Soybeans will undergo a significant bounce in the immediate term.

In the meantime, negative performances are also seen in other Grains as Corn is down $5.25 from the beginning of the session and now trades around $565.75.

Looking ahead, ongoing depreciation may be prolonged as tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -920,000 from the preceding figure of 5 million.

Furthermore, United States New Home Sales (Apr) is scheduled for today at 14:00 UTC. United States Services PMI is expected today at 13:45 UTC.

Trading mostly sideways for 2 months. Soybeans has shed 12.68% over the past three months.