As we are on the brink of the next cyclical recession food security has become more of a concern than ever. One can see the inverse correlation that rice has exhibited over the last 15 years being an extremely inelastic good as it is the most consumed grain in the world. In the last 14 years the value of this commodity future has gone up over 250% versus the most widely used currency in the history of mankind, what does that say about the purchasing power of the dollar? The system will crack, inelastic sustenance will experience hyperinflation. The last chart I made on Rice in early 2015 I claimed that it would bottom out at 9.2 and I was off by .1. Let's see how it goes, best of luck to all! And remember this market is relatively low and has extremely violent gaps so be careful with using leverage.
Trade active: Very tight descending wedge, possible test of 9.3 level. Expecting tremendous breakout to upside in coming weeks/months. All I see now is bullish consolidation
Comment: This chart is not updating for some reason but we have a strong reversal from the same levels that I have expected (9.4 hit at the end of March). Right now we are at 11.2 and well on the way to sure success.
Comment: Chart not updating, use for context