06/10/2014 – Soybeans

Issued: 06/10/2014

July soybeans:

1. In recent Williams edge live meetings the price level of $14.56 was noted as an important downside target in July soybeans that if touched and closed above on the day would indicate a tradable advance to $14.75 (initial exit), then $14.87/$88 (or higher).

2. Today’s July soybean market again retested the $14.56 level and will likely close above it.

3. Aggressive can buy July soybeans at the market. All others can place a buy stop/new long position at/near $14.60.

4. An initial protective sell stop should be placed at $14.57. This stop will be moved higher as the market continues to confirm.

David Williams

Issued: 06/10/2014

July soybeans:

1. Today’s July soybean market advanced to the forecast $14.75 initial upside target based upon today’s earlier indicated long entry at/near $14.65. Higher prices remain indicated as noted in the previous update, including a test/attempt at $14.87/$88 (or higher).

2. Our protective sell stop has been raised to $14.59. This stop will continue to be moved higher as the market continues to confirm.

David Williams

Issued: 06/11/2014

July soybeans:

1. Today’s July soybean market continued on the decline after yesterday’s completion of the forecast advance from $14.64 to $14.75 initial profit target.

2. Today’s decline triggered our recently adjusted $14.59 protective sell stop, resulting in a successful trade (today’s session low, $14.57, so far).

3. A daily close today above $14.56 is the stronger position and may prompt a secondary long entry. Will update as the market continues to confirm.

David Williams