date:Jan 10, 2013
March soybeans contract as it is not clear how strong the support at $13.56 is and how long soybeans could hover above this level, Reuters technical analyst Wang Tao said.
The support is jointly provided by the Nov. 16 low and the 76.4 percent Fibonacci projection level of the wave c, which started at the Jan. 2 high of $14.35.
But March wheat is expected to break a resistance at $7.59 and rebound further to $7.71 per bushel.
Friday's USDA report will give the final update on 2012 US crop pro