July Soybean Chart

Soybean prices were down sharp yesterday but today they consolidated and finished just a little bit higher. At least in the short term, chart support is holding. If that breaks, we can’t rule out from a chart perspective a move down to towards the $14.90 level. At least for the moment, charts are still holding at the $15.74 top that posted back in April and that has provided support that last 2 days.