The market closed on 8/21/09 at $9.7625. Soybeans appears to be basing for the next leg up to test the recent highs, but it has also entered into major resistance level and could be a struggle for the market to close above $10.
There is very strong resistance in the $9.82 to $9.97 range. If this is broken, the next major resistance level is $10.08 to $10.16, but could possibly push to $10.25 to $10.30.
The next level of support is $9.71 to $9.50. If it breaks below this level there is major support in the $9.44 to $9.36 and could possibly make a quick push to $9.29. However, the fundamentals are still bullish to probably maintain the recent lows.