Soybeans Face a Downward Cycle Toward $10 The pump in November soybeans to above $12 a bushel in May might not be resolved until prices slip below $10. Global stocks-to-use near 30% is roughly neutral for prices, but soybean-complex managed-money (hedge fund) net longs extended to about 12% of open interest as of June 15, highlighting liquidation risks initially toward $10.70. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tgpvt8r24u9y {BI COMD} #soyeans #futures @Bloomberg(Mike McGlone)