Soybeans and meal bouncing off the lows

Soybeans and meal sold off hard Sunday night and early in yesterday’s session before rallying well off their lows and have extended their gains in last night’s session. March meal is currently back above 468.40 and a close above that level would be supportive. The Argentina forecast is still friendly moisture, so the size of this bounce is a little surprising. We will be watching to see if the bulls can keep it up in the day session and extend these gains. We will be watching 6.75 & 15.10 as resistance and 6.62 & 14.76 as support. NFC Grain Comments Options -1.24.23 (1)