it looks like perfect planting\growing conditions here in the western edge of the corn\bean belt right now. shaping up as a high yield year. subject to change of course.
July Soybean is down significantly from where I had recommended. My initial target was 617 but since it is acting very weak, it could very well go below 617. I would put a close stop and take some money off the table and watch how it is going to act in the coming days. I had anticipated Dec. corn to move higher but I guess my calculation was wrong. I will buy any oversold condition and short over bought conditions. Any close above 252 will be bullish.
The market is on its way to your target, but I am seeing that its fall is being slowed at the 622 area. There is a chance that the July beans might attempt to rally from here on Thursday/Friday and into the weekend.
After beans rallied to 633 level from 625 they came down below the 622 initial target to 609. Good call. Nice short from 650 levels. Closing short positions for now.