I don't have alot of time, but it was important to update the energy levels on corn and beans - as well as the Time and price projections.  Sorry for the brevity.

Last year we started talking about the importance of this bar in beans.  It was simply the retest of balance.  From there we can project ahead price and time.

The latest pullback on beans left the upsloping fork, stopping at the modified frequency - prior to reaching its hagopian target.  Price then rallied up, but to date, was simply small reaction from the pullback.  The rally didn't make new highs, and couldn't even reach the stretch it had in the prior rally.  Neither of  these things are bullish.  Since price stalled on the modified schiff twice now and rallied, it si likely a balance.  Measuring the energy levels from the rallies, and projecting this into the future, it does not paint a rosy picture.  This projection confirms the retest bar noted last year, is in fact important, and is projecting balance into the future, since a "C" point anywhere in the projected area, puts the ML of the new fork into that bar.

Corn is much the same.  The latest pullback left the "Whatif" fork out the bottom turning before it reach it's hagopain projection, rallying up and taking out the fake structure.  Although the rally was dramatic, it was unable to achieve the stretch of the last rally - much like beans.

In closer, we can see how the formation on last winters rally was projecting path of price.   It stalled prices pullback as well, which ended up being the sloped modified schiff frequency.

In the world of Actions and Reactions, the latest rally becomes an action, the modified schiff LML becomes balance, and so we can project how much energy the rally has provided for the move lower.  This move could get us below the levels that would remove some weight off the corn market.  The 3.60's are a key level.   They need to hold to keep much of hope of a rally in tact.  Don't be surprised to see both corn and beans price start to flatten out as we head toward those projected levels.  Also, noteworthy is that both the recent rallies in both corn and beans came up short on time projections.  These projections are still pulling on price.  Pullbacks of the recent selloffs would not be a surprise, but would not likely change the ultimate path of price.

None of this is what we want as producers, but the 2012 hangover continues.

Take Care