Soybean prices also posting a high yesterday at 17.13 getting close to the upper end of the range. Todays close at 16.82 is 30 cents below yesterday’s high and 60 cents below the overhead resistance with chart support likely coming in around the 16.25 area.

That is where we’ve had multiple lows over the last 2-3 weeks and where our uptrend line comes into play.

Todays close is close to the middle of that range that we have established on the chart.