July Soybean Chart

We’ve also re-configured this chart to show last week’s high did not take out the high from the month of May. That allows us to draw a new downtrend in place. Next chart support down around $14.40, 20-30 cents below where we’re currently trading. The soybean chart has also turned down over the last week with technical indicators pointed downward as well. We do want our listeners to realize the chart and technicals are worth noting but changes to the weather forecast will trump any chart or technical signal at this time of year, in the heart of the growing season.