Our previous Yellow Peas analysis on August 2 provided the following comments when our index price was $9.50:
The price appears to have bottomed at the level of the 2021 consolidation.
We consider this a Bullish posture telling us to anticipate higher prices, perhaps testing the trendline near the 10-dollar level.
The price has since rose with quotes for limited tonnage exceeding $11.00.
You can read that analysis here:
Peas continue trading within this long-term rising channel.
I have been told Technical Analysis is just lines on a chart and is not useful for marketing grain.
Another doozy is that every ship at the bottom of the sea had chart also.
I thought that at one time also.
Obviously, I don’t anymore.
I credit my oldest son for introducing me to TA.
Check out the chart below.
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