Update: Soybeans - September 2015

 This is a short update on our September 2015 soybeans roadmap and current market behavior.

 Figure 1 is a daily price-time chart for November soybean futures. It is and update of the chart presented in our initial September 2015 soybean post.

 

Figure 1
Daily November soybean futures from 2014 to 2015. Gann's 20yrs cycle harmonic due to turn in late September 2015.

 

 The market has remained in a sideways motion after the Aug 24, 2015 swing bottom. Prices had gone up and down between 888 3/4¢ and 864¢. A range of only 24¢. Breaking these resistance/support levels will be a first indication of where the market is headed in the recent future.

 As mentioned before, our believe is that Gann's 20yrs cycle harmonic will align with a swing top from which the bear market will continue.

 Summary

 Soybean prices had remained sideways since the market bottomed on late August 2015. One possible scenario is that prices would rally, breaking above the 888 3/4¢ swing top into a late September top. From there prices should continue declining into the seasonal lows of Oct-Nov.

Update 2: Soybeans - September 2015 

 Ricardo Da Costa

 Grain Market Analysis