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blu
Posted 8/31/2014 07:21 (#4048085 - in reply to #4047351)
Subject: RE: charts posted




North, re Your comments ---
 
>>> Bean charts are ugly and likely a year behind the fall in corn prices.<<<
 I too been thinking beans were lagging corn in their respective turns - but as I analyze the Monthly new crop charts I posted  -
maybe not as much as I had thought.

This id what I come up with off the new crop continous charts------

++++++
Dec corn Tops = May 2008 at 799,    Aug 2011 at 779,    Aug 2012 at 849  -- now 450  = 53% of top price.  
 basis Dec continous contract posted

Nov Bean tops = Jul 2008 at 1636.75,     Sep 2012 at 1789  --- now  1024 = 57% of top price
  basis Nov continous contract posted
++++++++

Actually, I was surprized the see beans have dropped nearly same percentage as corn from their respective tops -
basis Monthly charts

I agree the Weekly and Monthly Bean charts look like new lows ahead.
But I didn't recognise the Daily Decending Wedge o the Daily Nov til yesterday when putting the charts  together.
( this is why I do this excercise as it makes one study more rather then just a glance at the chart.

Now , I'm wondering - if Putin goes nuts - then will will Nov BO upside of the wedge ???
If beans gap 30 - 40 higher Mon Nite - we may have our answer.
Same as if they gap lower. 
Dont be surprized at a gap open after 3 day weekend.


As far as  ---

>>> I believe they all ignore our charts.<<<

We know from reading other's comments  that there are several - maybe more then We think
that read their own charts.
I just wish they would post their thoughts more often.

Thanks for your comments

 

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