Tech Guy Soybeans Continuation Chart Update 6/12/26

The selling momentum has stalled in the last couple of days, with yesterday attempting another small down leg that was met with aggressive buying. I believe this market is counting a C wave correction from the rally which began last summer. We could see more backfilling creating an up D and down E leg, but the higher probability is new buying. Watch for heavy selling around 1200.0 - if not, then targets are 1300.0-1325.0. Sideways is out of the question because of recent price action.

The next support level comes in at about 1103.0 on the daily chart.

Rice:

At 750 million tons, rice is the world’s sixth largest agricultural product and a dietary staple for more than half of the world’s population, particularly in Asia. Leading producers are China, India, and Indonesia. Rice and wheat are competing crops. Together, they meet the protein needs of nearly half of the world’s population.

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