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* Soybeans (CBOT)- Currently $963.5
* The selloff in soybeans which began January 5, 2009 appears as though there is still more downside potential. The selling pressure was initiated by managed futures funds increasing short positions by a stunning 62.87%. Money managers began unwinding profitable long positions and initiating new short positions totalling 73,820,000 bushels for sale. The selling was met with modest buying from producers and processors.
* A short term low will be put in place after price reaches $923 - $927.
* Short-covering is expected to help price travel up to minimum target of $981 - $984.75
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