July Soybean Chart

Soybean prices have carved out a range. Last week’s high at $15.74. Last week’s low at $14.90 and we’ve been within that range for about a week and a half. We think weather is the key going forward. If we start to see some better rains developing in the forecast we could push this market down towards chart support. If the forecast remains dry then this market can push into new highs. Anything within this range seems to be fair game at this time.