We made the following comment in the September 7, 2020, edition of the Klarenbach Report.
As well, the Ag charts that we follow suggest that we could be entering a golden age of agriculture.
We identified chart patterns in Wheat, Soybeans and Canola futures, suggesting prices would increase significantly.
And they did.
The Wheat Futures analysis was:
I like this consolidation inside the ascending triangle. We have had our eyes on this one since April anticipating a triangle breakout. If the price can get above the ascending triangle, then I have a price target at 736’6.
A measured move calculation calculated the price target, representing a minimum move.
We know the price went to 1338, which was great to see.
Analysis for the other commodities can be found here:
The current is at an interesting level.
Keep reading with a 7-day free trial
Subscribe to Klarenbach Grain Report to keep reading this post and get 7 days of free access to the full post archives.