SOYBEAN CYCLES
Cycles for beans look like they hold up into June 3 at the latest and that could suggest a move to 1511 on the weekly continuation chart. That would be followed by a fall in June toward 1046 into the week of July 4. From there, if hot and dry weather hits, the market could rally into the week of July 25 or August 6, which is often a seasonal high. If we are going to get beans above 1600 this year, it will take weather problems in July. This is a wet year in general, so we may be hoping for too much. July weather cycles look wet or wetter than normal and I suspect the beans will enjoy them so not sure why this market would rally in July.