Soybeans have a similar scenario with the market chopping back and forth near the recent highs. We have not been able to reach new highs off the highs posted 2 weeks ago at 17.41.

Over the last almost 2 weeks the market has been consolidating near these recent highs.

A breakout to the upside could create a new selling opportunity or a breakout to the low side could create a buying opportunity.

But at least for now the markets are chopping in a sideways range, technical are almost dead center and chopping sideways as well, so we will sit tight for the moment and wait for the net move.