Issued: 05/01/2014
July soybeans:
1. Our previous July soybean update forecast a Wed., April 30 (+/-1 day) daily top at $15.21 in to be followed by a tradable decline to $14.94 (or lower).
2. Wed., April 30 closed at $15.12 (below $15.21) which was the weaker position, as noted in the report.
3. Self-directed traders short from Wednesday’s $15.12 daily close exited a portion of their position at/near the $14.94 downside target completed in today’s session.
4. A daily close today above $14.89 will prompt final short position exit. A daily close today below $14.89 is the weaker position and will prompt continued hold into Friday, May 2 for the possibility of lower prices. Will update.
David Williams
Issued: 05/01/2014
July soybeans:
1. Today’s July soybeans continues on the forecast decline below our original downside target at $14.94.
2. Self-directed traders should exit a further portion of their (approximate) $15.12 short position at current prices (current price, $14.84). Will update.
David Williams
Issued: 05/01/2014
July soybeans:
1. July soybeans continues to decline. Exit any remaining short position from $15.12 at current prices (current price $14.76). This completes the trade.
David Williams
Issued: 04/29/2014
July soybeans:
1. The next important daily market top in July soybeans is Wed., April 30 (+/-1 day).
2. A daily close below $15.21 is the weaker position and the earliest indication for a decline and test at/near $14.94 (or lower).
3. Will message any new entry in tomorrow’s session if the market confirms as noted above.
David Williams