Check your teeth for spinach because May is National Smile Month. And, if keeping ahead of the rapid ups and downs in the major commodity markets puts that grin on your face -- I have one word of advice:
Stay away from the mainstream financial media.
It’s just my opinion, but the popular “take” on why futures markets do what they do sounds less and less like the wise and steady Owl AND more like the chicken with its head cut off: A random mess of supply-and-demand "fundamentals" flailing about in all directions with no clear message in sight.
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Food For Thought: The May 15
Daily Futures Junctures presents in-depth analysis, labeled price charts, and a live video ALL showing where Soybean Meal could be in the days ahead.
Learn More)
Harsh? Well, you be the judge. The following May 14 news stories on Soybean Meal say more than enough:
- The first one paints a dismal Demand picture for the world’s largest buyer of soybeans: China. “Slow soymeal sales and shrinking profits has caused soybean stockpiles to accumulate at ports… and forced some oil factories to suspend their operations.” (Resource Investor, VA)
To make matters worse, there is damage to the earthquake-affected regions of the Sichuan Province, a major pig and poultry producer. The article concludes: “Analysts don’t expect a recovery for soymeal demand soon as the full impact to the earthquake in Sichuan remains unclear.”
- Now for the second article: “Soymeal climbs to two-week highs on underlying demand. The global economic engine driving soybean demand has not been derailed.” (Dow Jones Newswire)
Also added to the mix was this widely popular notion: “Soy Helped By Crude Spike” (FX Street.com) Yet I can’t help but notice that soymeal prices plunged nearly 20% to a three-month low between March 2 and March 20 -- all the while crude oil was soaring.
That said, there are plenty other external factors out there to fill in the blank of soymeal’s price action. Save your time. They all fall just as short.
If you want an objective look into the ups and downs in Soybean Meal’s performance, the May 15 Daily Futures Junctures has just the thing: Elliott wavelabeled price charts and original insight that reveals why the “stage is set” for a major move.
Above all, Daily Futures Junctures longtime editor Jeffrey Kennedy reinforces his written analysis of soybean meal with a live video. In this brief clip, Jeffrey walks and talks you through the process of arriving at his Elliott wave count, all the while showing you critical support and resistance levels and pointing out where prices may be going next.
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