Soybean prices did not takeout last week’s high, at least not yet. The trend is still up but beans are not seeing the market stream to the upside like we are seeing in the wheat market.

If beans don’t see additional friendly news this market could set back to the 16.30 level, that’s the breakout level from a spike high we produced in February. That would be the next level of chart support on a further break, that’s about 30-35 cents below where we are currently trading.