Will Soybeans break out to a new 10-year high?
The Continuous: Current Contract in Front Weekly chart below shows the consolidation near the 2012 highs.
The longer the price consolidates at this level, exhausting sellers, the more likely it will break out higher.
Notice the yellow trendline from the 2012 high to August 2020.
Readers of the Klarenbach Report published on September 7, 2020, remember seeing this chart and the comment:
As well, the Ag charts that we follow suggest that we could be entering a golden age of agriculture.
Drilling down to the Daily timeframe, we can see another attempt to break out of the consolidation.
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