In my my oil price forecast dated May 4, 2017 and found here I discussed a CME Report from March 2017, on the relationship between Soy Oil and Crude Oil. I thought it would be worthwhile to review what has transpired since (please go to my previous blog post or the CME Report to get the full details).
The red and green circles are tops (red) and bottoms (green) and it appears that soy is still leading crude by about 3 weeks since late last year. If the recent bottom in soy oil holds then the next cycle for oil is up.
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