Soybeans May Lean Toward $10 vs. $12 for Year-End Brazilian soybean supply is massive, hedge funds are stretched long and futures have recently rebounded to the key $12-per-bushel resistance threshold. My graphic features two main reasons beans near $12 at the end of May could be at greater risk of retreating toward $10 by year-end: managed money net longs near 20% of open interest are the highest since 2023, and Brazil's 2026 soybean production may reach a record 180 million metric tons. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tfmzt8kgzan9 {BI COMD} #soybeans #futures #Brazil @BBGIntelligence(Mike McGlone)