NEWS
Darin Newsom DTN Senior Analyst
Sat Apr 6, 2013 10:16 AM CDT

Believe or Not, May Beans Showing Signs of Life

To study possible short-term developments in the soybean market, I chose to look at the daily chart for the May contract due to higher open interest than the July and option expiration of May puts and calls at the end of this month. What I found was interesting, because the recent collapse in the contract has actually led to bullish technical signals.

On March 27, the day before USDA's Quarterly Stocks report, May soybeans closed at $14.53 3/4. Early the next day the contract extended its ill-fated rally to a high ...

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