MARKETS NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Thu Apr 11, 2013 02:15 PM CDT

Wednesday morning, before the release of USDA's April Supply and Demand report, I posted a blog discussing the trend in the May to July soybean futures spread. At the time, it was challenging its recent high of 26 1/2 cents (inverse), threatening a bullish breakout that would imply a tightening supply and demand situation.

Since Wednesday morning the spread has gained significant strength. So much so that it blew past its recent high and is now in position to test its all-time high of a 39 cent inverse established on September 4, 2012. Thursday's close was at 34 3/4 cents, ...

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