Caged Between $10-$12, Soybeans Face Low-Price Cure Soybeans may not have completed a low-price-cure cycle below $10 a bushel, yet staying above $12 would suggest otherwise. Roughly $10-$12 has marked the oil seed's cage since 2024's $9.36 low, which was the nadir following the 2022 high of $17.84 on the back of Russia's invasion of Ukraine. The 2026 season may be a key determinant of whether the cycle low is in. My graphic highlights the significance of $12 threshold resistance, which is roughly the five-year moving average. The low-price cure following 2012's $17.90 high didn't materialize until around $7.91 in 2019. I see parallels. Massive supply from Brazil remains the primary headwind. Elevated prices in 2022 fueled a surge in South American production, and it may take lower prices to help reset the supply-demand cycle. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tdseq8kgzapk {BI COMD} #soybeans #grains #technicalanalysis @BBGIntelligence(Mike McGlone)