Just minutes before the overnight session closed, soybean prices surged much higher. Some news event must have occurred to create such a tide of price movement within a short period of time. Soybean futures purchases in India were firm and demand was strong overnight. Nearly all of the price spike pictured took place within a 5 minute period. I will investigate this before the market reopens. It is likely bullish for prices when the day trading session begins.I noticed that prices found support at the 50-day moving average. Is this a factor?
