Following is a short cycle update on the soybean market. The soybean roadmap for 2014 discussed a harmonic of Gann's 14 years cycle due to turn in mid-June 2014. These harmonic is due to turn next week.
Cycle update
Figure 1 is a daily price-time chart for cash soybeans. It is an updated chart from our 2014 soybean roadmap. It contains harmonics of Gann's 45 years cycle which bottomed on November 2011 and 2013. As explained in previous updates, this cycle is due to turn again on November 2014.
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| Figure 1 Daily cash prices for soybeans at central Illinois from 2012 to 2014. Harmonics of Gann's 45yrs and 14yrs cycles. |
Figure 1 also shows harmonics of Gann's 14 years cycle which aligned with several turning points in 2013 and recently with the multiple bottom of January 2014. This harmonic is due to turn next week, around June 10-14.
The reader may want to review recent past records to see how often the market turns in the month of June. June is a very important month for extreme high prices in soybeans, however the market sometimes bottoms in this month. For example, see the years 2010 and 2012.
Update 2: Soybeans June 2014
Update 2: Soybeans June 2014
Ricardo Da Costa
Grain Market Analysis
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