Soybean Futures—Soybean futures in the July contract are sharply lower down another $0.18 at 8.24 a bushel as this gravy train to the downside continues as I still have nothing bullish to talk about as prices still look expensive.
The entire agriculture market is melting down including the stock market which is quite a surprise as North Korea has launched missiles pushing prices lower, however I think this is an overreaction, but I see no reason to be owning soybeans at this time as lower prices are ahead.
If you have followed any of my previous blogs you understand that I thought 8.10 was a realistic goal and then after that 7.75 as this market fundamentally & technically speaking is extremely bearish and if you are short stay short.
CHART STRUCTURE: POOR
If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com
Skype Address: 5da1f85979b7117b
FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER
If you’re looking to open a Trading Account click on this link www.admis.com
Click on Members Login—-Username—coffeeshop
Click login and then click on Blog and click on the title of the story to read—Mike 630-408-3325
Click on my live chat so we can talk as well
There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.