Soybeans continued a four day positive streak, up $12.25 to $1,336.25

Friday at a glance: Soybeans closed Friday at $1,336.25 per bushel (with a daily low of $1,322) after ending Thursday at $1,324 and gaining 0.93%.

Soybeans made an initial breakout above its 10 day Simple Moving Average at $1,335.5, a potential indicator of a newly emerging bullish phase. On the other hand, note that although CME Soybeans is appreciating today after rising as high as $1,343.5, price action is now slowing and consolidating around $9.58 below the $1,345.83 resistance level.

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

This rally in CME Soybeans's price coincides with other Grains as notably, Rough Rice rose 2.86% Friday and closed at $16.6. Corn is trading around $605 after ending Friday's session at $590.75 (up 2.41% today). Oats added 2% and closed around $336 Friday.

Trading mostly sideways for 2 months. CME Soybeans has shed 11.32% over the past three months.