Recent talk of a trade war between the United States and China have stalled the upward trend in Soybeans. With this stall, support has formed around 1045 in the May 2018 contract. I have recently exited my long position in this market as I wait a resumption of a trend.
With support established around 2552 and resistance at 2680 being repeatedly tested, the market appears to be setting-up for a move higher. The question is will this market desire to move higher out-weigh the influence of world political events.