We enter the week ahead of the U.S. Fed FOMC meeting on Tuesday (June 13) and Wednesday (June 14) slightly bearish with a potentially higher yield (trend presently remains bullish or lower yield), due to Fed rate hike expectation at meeting’s end on June 14th. Fed written and verbal guidance will be important to market dynamics going forward.

Economic Weakness, Event Risk Concerns, or Other Market Concerns/Factors will likely take yields lower to 2 or below before significant move higher

Remains Bearish: For a period the dollar should have more weakness than strength especially against the Euro

Big Picture: The dollar has a bullish bias given global economic, social, political and military challenges

Unless Middle East, North Korean, European, other anomaly events start to dominate market participant decisions for a period, then we are still DEFINING a trading range 95 -104

Global economic uncertainties and bearish energy fundamentals has this index dangerous weak, an additional leg down should be expected before bottom is in place

Between Fed off-again and on-again accommodation and/or verbal guidance, building uncertainties surrounding fiscal, trade and regulatory policy simulative activities, the $CRB Commodity Index: a key economic indicator, has struggled

Bigger Picture: Though spastic global macro forces in general remain supportive of the commodity sector

Fundamentals are finally overriding OPEC verbal guidance and an array of other factors

Closing and holding below 45 implies weakness to 41 or lower

Additional price weakness will likely be problematic for the $CRB Index and commodity sector

Sustained oil prices below $50 presents macro challenges and raises global economic momentum concerns

Possible bottom in place

A resumption of commodity index weakness, a likely function of fundamentals and Fiscal and Monetary Policy and Global Economic Uncertainties, could translate into a final price low at $8.35 or lower

Simply stated watch the price action to define soybean price dynamics

Near term upside $4.55

Cautionary Note: Sustained oil price oil price weakness could possibly be problematic for corn prices

Slight bullish bias remains due to U.S. long grain 2017 acreage and production uncertainty, but slowly losing momentum

This is a highly complex market with an array of factors impacting price from 2016/2017 fundamentals; 2017 acreage, production and quality uncertainties; present underlying aggregate commodity sector dynamics; problematic global economic momentum, geopolitical uncertainties, and/or global agronomic outlook

With the 84-cent price objective achieved now we wait on price action to determine if additional price strength exists

Global economic uncertainties weigh heavy on this market, but price potential to $5.51 remains a possibility

Cautionary period

Allow price action to unfold

Larger trend remains up

Momentum driven by a select few technology stocks

Allow price action to unfold

Trend remains up

Entering a cautionary period

Trend remains up