Soft Commodity Update

Are Soft commodities finding a major low here?  Could be but it will vary by commodity and could take another few months to a year for some.

Here is update with charts on DBA, SOYB, JJG, MOO and I may add Sugar and Coffee later if I find time. The first three charts are DBA which covers a broad mix of various softs.  Also charts on SOYB for Soybeans and JJG, an ETF that buys Futures in Soybeans, Corn and Wheat.

My first chart on DBA s nasty 8 year downtrend. The only thing interesting on that chart is that we are in my timing band to find a Yearly Cycle Low (YCL).  Note the rallies out of a YCL if you can catch them. The last 3 YCL’s have made lower lows but the rallies before they topped were a nice ride if you catch them. My second DBA chart is a close up daily that shows we may be bouncing out of a Half Cycle Low. My 3rd DBA chart shows you the resistance near 19.60 that I will be watching closely and may take a position if it does.

Click on images to enlarge

MOO is an Agri-Business EFT which has done quite well while the broader CRB has suffered:

Added: Coffee and Sugar charts, 3 Year charts fist then a close up of the current Intermediate Cycle.

Both these commodities may be forming what looks like an Elliott Wave 2 low.