Soybean futures have sputtered since topping in early January, dropping to their lowest level in four months. The Soybeans' struggles have in some ways mirrored the stock market's beginning-of-the-year woes. Unlike the stock market, though, Soybeans experienced little of the slight gains of the first days of February.
The mainstream media has taken notice of Soybeans' struggles. Since the end of January, news outlets have run articles with titles like these:
- "US soy extends slide on dollar, S. American crop" (Reuters, Jan. 31, 2010)
- "Corn, soybean prices dip in January trading" (Des Moines Register, Jan. 30, 2010)
- "Corn, soy futures seen headed lower" (Resource News International, Jan. 27, 2010)
With such gloomy news, Soybeans' problems will likely persist, right?
Daily Futures Junctures editor Jeffrey Kennedy provides a specific answer. Although these might seem like difficult times for Soybeans, he notes that in the past year alone the market has dropped in a similar fashion three times. On each occasion, Soybean prices responded nearly the same way.
Kennedy lets you know what this trend means for you. He applies the Wave Principle's objective set of rules and guidelines to tell you exactly where he sees Soybeans headed next, presented in crystal-clear detail on an Elliott wave–labeled price chart. He also supports his wave analysis by examining the rapid negative rate of change in Soybean prices.