Food Crisis Updated

If WHEAT is down 34% (back to 2007 levels), SUGAR is down 28% (sub 2005 levels), COCOA is down 20% (back to 2003 highs), COTTON is falling since 1995 and is down 87%, CORN is down 34% (back to 2007 levels) and even COFFEE which we gave a positive upturn reco in MAR 2007 (after which it turned up 60% from sub 100 levels to 160) has also retraced 19% from its historical highs. The bean is back to 2005 levels. So one can wonder about what happened to the food crisis? Is it over now that agro commodities are falling again.
Markets are a lot about patience and timing. The people who cry about food crisis are definitely not speculators who profit from rising food crisis. Noise is always tough to quantify. This is why we were early when we were speaking about the agro bull being already seven years old and the current rises finally pushing the prices lower than higher, it all seemed so strange. We wrote about this in Jan 2007 (Westernisation of Asian Diet).
Now after agro prices are back to 2007 lows and in some cases back to multi years lows, agro commodities need a review. First and foremost, even if on a multi month basis prices are down, the cycle (multi year) uptrend on agro prices is far from over. What happened was a normal retracement, which is now pushing most agro commodities into consolidation zone. The conventional head and shoulder on wheat may suggest it is over for the grain, but for us at orpheus this is a classic previous iv support zone. And the down move on wheat is an ending correction, after which the multi year uptrend should re-exert itself again.
The latest issue of WAVES.AGRO carries ANTICIPATED and HAPPENED case on COFFEE. An updated view on COTTON, CORN, SUGAR, WHEAT and a few different fractals of different time frames. We also carry an updated tracker at the end of the report, which carried the preferred MINOR TRENDS on the the various assets.
Enjoy the latest WAVES.AGRO
[bold]WAVES.AGRO[/bold] is a perspective product published once a month. The report covers Coffee, Sugar, Cocoa, Wheat, Corn and related FUTURES. The product highlights Primary (Multi Month) and Intermediate (Multi Week) price trends. The report illustrates key price levels, price targets, price projections and time turn windows. The product uses Elliott waves, traditional technical analysis tools and sentiment indicators.
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