July Soybean Chart

We’ve had to reconfigure this chart as the market continues to press lower. Massive, in fact, unprecedented losses in the soybean market today. Outside of delivery period, I’m not sure we’ve ever seen a loss of $1.18 in one day in the soybean market. The market is now into an area where we were consolidating back in Jan through early April with chart support at the $12.82 level from some price lows earlier in the year. Nearby July soybeans prices have now fallen $3 since last week.