Near Term Trend: Bearish nearing support
Fridays Close: 905 4/8 (+1)
UPDATE: Last week, I suggested selling soybeans near 947 5/8 with a target of 870 and with stops above 948 2/8.
Soybeans didnt bother to rally and instead broke straight down to new lows this week and are now nearing downside targets at 870.
I would look to cover shorts and get long in beans near $870. Stop out below 868. Upside target of 940.