Soybeans in major bull run, but likely in final phase

See on the daily bar chart for March soybean futures that prices are in an accelerating uptrend and have just hit a contract and nine-month high. The bulls are in solid command. However, the latest strong move higher appears to be the final boost phase of a major bull market run. That suggests from a time perspective, the bull market run will likely end sooner rather than later—even if there is still more upside price potential in the very near term.

Stay tuned—Jim Wyckoff