Chart of the Week – Sat. March 30 2018


About this chart: This is the weekly soybean continuation chart and the weekly chart of the Chinese stock market (Shanghai Index). You can see how closely correlated the markets have been since 2015. Also note how both markets have been hit since the start of the US-China trade war.

What this means for you: The Shanghai Index posted an impressive rally over the last three months, posting gains of nearly 27% so far in 2019. I look at this as a positive lead indicator for the soybean market.