Soybeans did break through chart support this morning and turned around closing at 14.08.

That was 16 cents off the daily low.

The chart still has a negative look and the technical is still pointed downward as well.

The market did bounce back and closed slightly higher and technical indicators are approaching the oversold level.

If we don’t get some bullish news and bounce back quickly, we do risk price working into those lows between 13.50-13.75.