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.
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