FOR TUESDAY: (12/12) The 29/30 day cycles seem bearish for Tuesday’s grain report but we’re open to a surprise given larger friendly cycles into Friday and Sunday. Would think that beans will hold 974.50 and recover and wheat and corn patterns are done so any breaks here wouldn’t be great. Gambling a bit for higher prices but the bears continue to be in control and so just risking small amounts.

JAN. SOYBEANS (electronic ok)
TODAY’S COMMENTS: (12/12) Lower support down to 974.50 and with the sell signal, buying or bottom-picking at 980 doesn’t make sense and we’re thinking a bounce to 988 or 991.50-992. While we have a bias toward a recovery over the next week, we’ll need some really positive surprises out of USDA, and with beans it is not worth the gamble. The technical breakdown below 989 is going to be a problem.
OVERALL: If we get a seasonal high into January, it could reach up to 1040-50 but it will require weather problems in South America.
CYCLES OVERVIEW: Higher Dec. 11-17.

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