July Soybean Chart

Soybean prices also making a nice move to the upside today and it was enough to turn the technical indicators so the soybean chart and technicals also telling us there could be additional upside potential in the near term. The next level of overhead resistance would be $15.74. That is where we had a spike high back in April and that’s about 37 cents above where we closed today. As we mentioned this is not necessarily the high in the market, it’s just the next target on the chart.