July Soybean Chart

Soybean prices also sharply lower today. Beans have very quickly fallen 92 cents off of the highs posted just yesterday. It’s enough to turn the technical indicators to the downside. Soybeans have come right down to chart support today at the trend line and the $15.74 level. But if soybeans cannot find chart support at today’s low, the double bottom from about 3 weeks ago at $14.90 certainly becomes a point to consider on the chart.