08/26/2014 – Soybeans

Issued: 08/20/2014

Nov. soybeans:

1. In today’s Williams edge live meeting it was noted that Nov. soybeans were now in a weaker position and could be sold short upon a daily close below $10.38. Today’s Nov. soybean session closed at $1037.20, which is considered neutral (not enough below $10.38 to warrant new entry).

2. Although today’s daily close did not trigger new entry, the initial downside profit target is $10.23/$22 (or lower). Will message any new entry in tomorrow’s session if the opportunity occurs.

David Williams

Issued: 08/26/2014

Nov. soybeans:

1. Our previous (Wed., Aug. 20) report indicated that Nov. soybeans could be sold short upon any daily close below $10.38 for a test/attempt at $10.23/$22 (or lower).

2. Yesterday’s (Monday, Aug. 25) session broke below $10.38 and closed at $10.28.

3. Although much of the forecast initial decline occurred upon yesterday’s close, those following the Wed., Aug. 20 report entered short upon yesterday’s daily close ($10.28) and exited 1/2 position at/near $10.23/$22 (today’s session low, $10.24, so far).

4. Lower prices remain possible. Will message final short position exit in a subsequent update.

5. An initial protective buy stop should be placed at $10.30. This stop will be moved lower as the market continues to confirm.

David Williams

Issued: 08/26/2014

Nov. soybeans:

1. We remain short Nov. soybeans from yesterday’s (Mon., Aug. 25) daily close at $10.28.

2. Final short position exit should be taken at/near $10.16/$14. The completion of those levels may require into tomorrow’s (Wed., Aug. 27) session.

3. Our protective buy stop has been lowered to $10.29. This stop will be moved lower as the market continues to confirm.

David Williams

Issued: 08/26/2014

Nov. soybeans:

1. Today’s Nov. soybean market reversed after completion of the $10.23/$22 downside target noted in previous updates (today’s session low, $10.19) and triggered our $10.29 protective buy stop. This resulted in a successful trade.

2. Lower prices remain possible, as noted in our previous report. Will message any reentry if the market continues to confirm.

David Williams