05/09/2017 – Soybeans

July soybeans:

1. In yesterday’s (Monday, May 8) Williams edge live meeting it was noted that July soybeans (then trading at approximately $9.63) were expected to decline slightly lower to $9.61 which was buying territory for an advance to $9.70/$71 and then a test/attempt at $9.80 final target expected later this week.

2. Today (Tuesday, May 9) July soybeans were (unfortunately) unable to decline to the $9.61 buying territory and quickly completed the forecast advance to $9.70/$71 (today’s session high $9.76, so far). Will message any further entry or indication in July soybeans.

David Williams