Corn & Wheat Surging to Initial Upside Targets; More Upside Expected. What Impact Will 2019/2020 Food Crisis Cycles Have?
Corn & Wheat Surging to Initial Upside Targets; More Upside Expected. What Impact Will 2019/2020 Food Crisis Cycles Have?
05/22/19 Weekly Re-Lay Alert – Casting Shadows Before: “Soybeans, Corn & Wheat are all surging, corroborating analysis for a new rally into June from current levels. Corn is leading the way and provided the necessary weekly close above 373.0/CN to validate that scenario and project an initial surge to 403 – 408/CN with a secondary upside target at 435 – 443.5/CN.
In recent weeks, Corn fulfilled a 24-week high-high-high-(low) Cycle Progression as Wheat was completing a larger 16-month low (April 2015) – low (Aug. 2016) – low (Dec. 2017) – low (April 2019) Cycle Progression. Both projected (at least) 1 – 2 month rallies.
The intriguing thing about Wheat is that it has the potential for a substantial rally into 3Q 2019 – that would then fulfill a myriad of overlapping monthly cycle highs…
That includes a 12 – 13 month high (May ’14) – high (May/Jun. ’15) – high (Jun. ’16) – high (July ’17) – high (Aug. ’18) – high (Aug./Sept. 2019) cycle and a 12-month low (Aug. ’16) – high (Aug. ’17) – high (Aug. ’18) – high (Aug. ’19) Cycle Progression.
A high in July – Sept. 2019 would also complete a 7-Year Cycle from the July – Sept. 2012 peaks.
If a rally into Aug./Sept. ’19 took Wheat above 593.0/W – its Aug. 2018 peak – Wheat would also be completing multi-year rallies of equal duration (3Q ’09 – 3Q ’12 rally = ~3 years & 3Q 2016 – 3Q 2019 rally = ~3 years).”
Corn & Wheat validating analysis for major rallies after fulfilling multi-month cycle lows (late-April 2019) and reversing higher. Outlook calls for initial strong rallies in May/June 2019… with Wheat likely to extend advance into Aug./Sept. ’19. Is this linked to Food Crisis Cycles forecast for 2019 – 2020?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.