July soybeans lost 16.50 cents on volume of 160,355 contracts. Volume increased from the 98,761 contracts traded on May 13 when July soybeans advanced 18.50 cents and total open interest increased by 3,968 contracts. Additionally, volume was the highest since May 9 when 172,535 contracts were traded and July soybeans advanced 17.50 cents while total open interest increased by 773 contracts. On May 15, total open interest increased by 4,028 contracts, which relative to volume is average. However, the July contract lost 1035 of open interest, which makes the total open interest increased more impressive (bearish). As this report is being compiled on May 16, July soybeans are trading 0.50 cents higher after making a daily low of $14.61 1/2, which is slightly below yesterday's low of 14.62 1/2. Soybeans have attempted to break below be 14.60 1/2 low made on May 13, but have been unable to do so. On May 7, July soybeans generated a short-term sell signal, and have not traded above OIA's key pivot point, which would reverse the sell signal. As a result, July soybeans have traded sideways to lower.