Soybean prices exploded to the upside on bullish news from USDA yesterday and we saw follow through to the upside this morning.

Taking prices to 15.08 and nearly matching the spike highs from early July.

Unfortunately, prices did pull back and we closed lower on the day at 14.78, so we did close 30 cents off the daily high. A combination of harvest pressure and lower outside markets could give us a harvest break with chart support likely coming into play in the 14.10-14.25 range