Not denying the validity of a technical setup to short beans, and there's no doubt about it that $10 is a huge psychological level there. Just keep in mind that grain prices have a correlation to the other commodities, and as long as stocks want to go up and people are shorting the $, grain prices may be supported.
For what it's worth, summer drought would no doubt support the prices, but from what I can tell in the Midwest, the weather has been VERY favorable for excellent crop conditions so far this year. A lot of corn was planted in early April when conditions were dry and favorable, and we could be looking at a bumper crop in that regard. Yet corn prices remain in the $3.70's-worldwide grain demand.
just some things to
consider......