Tech Guy Soybean Comments 3/29/26

The daily soybean continuation chart is kind of in no mans land as to whether a new down leg will begin or not. Current price levels have not violated the previous high by much - about 15 cents compared to the more than 2 Dollar rally that has occurred since last years low marks. The current highs are above the last high marked on November 18th 2025. In other words, soybeans could not continue to mark new lows since the limit down day -this leans bullish. You will see these facts on the chart.

You will see that the current price range of several days is hugging a steeper up trendline, and until a couple of days of new lows are printed, the uptrend remains intact long term. Therefore, the ultimate question is are soybeans trading in a new uptrend over the last several months, or have the last 2 up legs only been an A-B-C up correction?

Take a look at an intraday soybean chart, and you will also see that the chart has printed 2 higher highs and lows. This is since the big limit down day about 2 weeks ago.

Subsidies:

Up until the mid-1980’s, grain production in the U.S. was heavily subsidized by the government to keep the price of food low for American consumers and to keep farmers farming. In the case of wheat, about 30% of the cost of production was paid for by U.S. government subsidies.

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