06/12/2014 – Soybeans

Issued: 06/11/2014

July soybeans:

1. In today’s (Wed., June 11) William’s edge live meeting it was noted that any further downside break in July soybeans below the recent forecast $14.56 target would send prices sharply lower and test/attempt $1441/$40 (or lower).

2. After today’s crop report the market ultimately broke below $14.56 and has made a session low of $14.44, so far.

3. Although no official short entry occurred, self-directed traders should expect lower prices into tomorrow’s (Thursday, June 12) session. Will update.

David Williams

Issued: 06/12/2014

July soybeans:

1. In yesterday’s (Wed., June 11) Williams edge live meeting it was noted that any break below $14.56 in July soybeans would send prices sharply lower and test/attempt $14.41/$40 initial profit target, and lower.

2. Today’s (Thursday, June 12) soybeans session declined sharply, completing both the $14.40 downside target and lower, making a session low of $14.28, so far.

3. Self-directed traders based upon the original forecast should exit the majority of their remaining short position at this point (current price, $14.28).

David Williams