July Soybean Chart 5-21-21

Soybean prices also pushing sharply lower after highs were posted at $6.67. Today’s low at $15.12, soybeans have fallen $1.55 off of the recent high. Technical indicators are getting close to the oversold range but no sign of bottoming action yet. Beans are also in a consolidation range between overhead resistance at $15.74 and chart support at $14.90 and where we move within this range will be determined by the weather forecast Sunday night into Monday trade.