04/23/2014 – Soybeans

Issued: 04/21/2014

July soybeans:

1. Friday’s (April 17) July soybean session closed the day at $15.02, well below the $15.21 short position confirming level noted in the previous update.

2. Partial short position exits were taken today at/near $14.96, as noted in the previous update (today’s session low, $14.88, so far).

3. Final short position exit should be taken at/near $14.75, as noted in the previous update. Aggressive can continue to hold a small remaining position for the possibility of lower prices, including a test/attempt at $14.60.

4. Protective buy stop should be lowered to $15.14. This stop will continue to be moved lower as the market continues to confirm.

David Williams

Issued: 04/21/2014

July soybeans:

1. Today’s July soybeans continued on the forecast decline from $15.21 noted in previous updates and completed the $14.75 final downside profit target (today’s session low, $14.75, so far). This completes the trade.

2. Aggressive can continue to hold any remaining short position for the possibility of lower prices, including a test/attempt at $14.60.

3. If holding for the possibility of lower prices, protective buy stop should be lowered to $14.97.

David Williams

Issued: 04/17/2014

May soybeans:

1. Today, April 17 is the next important daily market top in May (and July) soybeans. A tradable multi-day decline is expected.

2. Continued daily closes below $15.21 indicate new short entry and a tradable multi-day decline and possible test/attempt at $14.75/$73 on the downside. Initial short position exits should be taken at/near $14.96/$95.

3. Initial protective buy stop should be placed above today’s high (approx. $14.32). This stop will be moved lower as the market continues to confirm.

David Williams

Issued: 04/23/2014

July soybeans:

1. Today’s July soybeans continued on the forecast decline from $15.21 to $14.60 noted in our recent April 21 post (today’s session low, $14.60). This completes the trade.

2. Our subsequent April 22 post indicates today, Wed. April 23 (+1 day) as the next important daily bottom in July soybeans upon a test and daily close above $14.63. Keep this in mind.

David Williams