In the latest Araujo Report sent out to members this past weekend I pointed out the importance of watch a specific area of supply the banks had created because if the area was to be removed than we would have a signal that rice was heading much higher.
We can see that this has taken place. The institutions have removed their supply area and this has now allowed for price to rally very aggressively. We also have the Fed coming out and saying they are going to start increasing interest rates in march which is helping to fuel this move.
But where is price heading in the long run? We'll continue to cover this in the weeks/months to come.