Soybean To Average USc1,000/bushel In 2010

Front-month (August) soybean looks slightly precarious around current levels. Although the contract surged higher in early July, we expect downside pressure to mount over the coming weeks. This traditionally occurs as we move towards September, which is when the US harvest gets underway. As a result, we target a move back down to multi-year support around USc950/bushel in the coming weeks.

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