July Soybean Chart

Soybean prices also pulling back just a little bit in the July. Overall, the chart is still pointed upward. Initial chart support at $15.74 was tested today and if the U.S. weather would remain favorable we would not rule out going down to $14.91 where we have somewhat of double bottom. That would be the next level of significant chart support if we get favorable weather and the market pulls back further.