Soybean rally runs out of steam...
Soybean have reached a top, at least temporarily, at $1204. The rally has run out of steam since then and prices have been in a mild downtrend. Support can be expected at $1020, where price has already bounced in late June. A break below would be quite bearish and signal a continuation of the retracement to at least $950. The soybean market has been quite volatile recently due to shifts in weather forecasts. 
Cocoa triangle
Cocoa has seen some very wild swings as well over the past few weeks. Technically, Cocoa is currently trading within a triangle formation on the longer-term charts and the range is getting increasingly narrow. The key levels to watch are $3185 and $3238 to the topside and $2900 and $2803 to the downside. 
Coffee finally breaks out
As we can see on the Weekly chart, Coffee traded within a very tight range for the past 16 months. 
It finally broke out of that range and traded as high as $154.40 last week. It remains to be seen if Coffee can sustain the momentum, but volatility has finally increased and the former resistance area around $136 is likely to attract decent demand. 
Natural Gas is consolidating
NG has been consolidating since the topside has been capped at $3.00 last month. So far, it has found decent support ahead of the $2.60 level and short-term techs remain bullish overall. However, $2.50 is a significant support level and a break below could add to the downside momentum that has been slowly building over the past three weeks. 
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Originally published by AxiTrader