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Darin Newsom DTN Senior Analyst
Fri Mar 28, 2014 03:30 PM CDT

May Soybeans: Waiting for the Verdict

In a mere 67 hours or so (from the time this blog was posted) the soybean market will likely have a better idea of which direction it is going. That's how much time (roughly) until USDA releases this year's round of March Quarterly Stocks and Prospective Plantings reports.

If we look at the charts, can we get a sense of how things might go? Not really. As the weekly chart shows the nearby May contract has spent the last number of week's consolidating below its recent high of $14.60. Meanwhile, noncommercial traders have been ...

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