Soybean meal futures go “parabolic”

The soybean meal futures market has screamed higher this week, going “parabolic” in trading parlance. That means prices going nearly straight but. While this is obviously a bullish development, what is less obvious is that history shows that when a market goes parabolic, a topping process is likely to occur much sooner. As goes the soybean meal futures market, so will go the soybean futures market. Stay tuned! Jim Wyckoff