Soybean prices, which had been in a short-term downtrend last week, are turning the corner.

It was an outside day up, meaning we posted a new high for this move, but we did close lower.

So, a mixed signal on the soybean chart but the technical indicators are pointed upward despite the fact that we had a correction today.

To continue this short-term uptrend, we would like to see soybeans breaking above where all three major moving averages the 10-, 20-, and 40-day moving averages, if we would break above those it would signal the potential from a move towards overhead resistance in the 16.80-16.90 range.