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 |