Last week I posted for the first time in many weeks.... That message is reproduced in its entirety below.....
Beans are topping *LINK*
By:roger
Date: Wednesday, 14 March 2012, at 10:42 am EDT
Back in April 2011 I made the claim that soybeans would not make any new highs on the nearby chart. At that time the highest nearby beans had been was $14.55 on 2-10-11. At the time of the posting in April, nearby beans were in the $14.20's, very close to the top. For the next few months soybeans kept banging up against the low $14's but never broke $14.55. On August 31st nearby beans rallied to $14.56 before turning lower and dropping over $3 in just over a month. We are now approaching a full year since that declaration and soybeans still have not broke the identified price! And this was during a time of volatile price swings.
IT IS TIME TO GO ON RECORD AGAIN........ soybeans have reached another major top. Within the next few trading days beans will make a major top. As this is being typed, May 2012 soybeans are trading at $13.52.
Jon Brueggemann
grainmarkettiming.com
