1. Continued hourly closes in July soybeans above $14.56/$54 in tomorrow’s (Tuesday, May 6) session will be the earliest indication for a multi-day advance and test/attempt at $14.72 (or higher) into Wed., May 7 (+/-1 day).
2. Will message any new entry in tomorrow’s session if the market confirms as noted above.
1. Today’s July soybeans closed hourly below the $14.56/$54 level noted in the previous update, negating new long entry and indicating the likelihood of lower prices.
2. A daily close today below $14.51 is the weaker position and may prompt new short entry for test/attempt at $14.25/$24. Will update as the market confirms.