Soybeans are running up on the prospect of hot, dry weather in the US and shrinking reserves. Technically they have broken out of a trading range, running through the 1000 level which has been important in the past. Open interest is not excessively long. As with wheat, I have traded with half a unit of risk because of the correlation between the two markets. In the last bull run of soybeans it was better to use wider stops, but this is a breakout from a range rather than the continuation of an up-trend and I am inclined to use a tighter stop. I only have November soybeans available to trade so I am hoping for a rally that lifts the whole curve (see stop loss page for a chart of the Nov contract). Incidentally volumes look low but I think this is a function of the continuous contract calculation.