1. Nov. soybeans continue to react off the recent $10.23 downside target (lowest recent daily close, $10.23).
2. Under normal conditions, soybeans will test/attempt $10.39 (or higher) into tomorrow (Wed. September 3, +/-1 day).
3. Aggressive can go long at market (current price, $10.31)
4. Initial long position exit should be taken at/near $10.36, then $10.39 and any remainder held for higher prices to be messaged in a subsequent update.
5. Initial protective sell stop should be placed at $1026. This stop will be moved higher as the market continues to confirm.
1. Aggressive remain long Nov. soybeans from at or above $10.31 noted in today’s (Tues., Sept. 2) previous update..
2. The market effectively completed both $10.36 and $10.39 upside targets noted in the report (today’s session high, $10.38, so far).
3. For those holding any remaining long position, our protective sell stop has been raised to $10.28. This stop will be moved higher as the market continues to confirm.