Chart Of The Day

28/06/12 -- A chart (click on it to enlarge) showing the ups and inevitable downs of Chicago soymeal over the last 30 years. It will not escape your notice I'm sure that the peaks and troughs are getting closer together.

In 2004 the market collapsed by 50% in 7 months. In 2008 there was only three months between the high and the low, during which time meal slumped 36%. And no, 2008 wasn't a never to be repeated sub-prime responsible one-off - within eight months the market was almost back to the highs of 2008, before again capitulating 34% in nine months to a March 2010 low.

Within less than a year we were back up 40% to a Feb 2011 high, down USD90 (or 22%) to a Dec 2011 low, from where we have now risen another 37% to the recent highs.