FOR WEDNESDAY: (4/4) Cycles are complicated for Wednesday and patterns are mixed enough that we will leave the markets alone. Cattle clearly have at least one more rung to go but harder to chase. Cycles into Wednesday/Thursday have often been dramatically bearish but once in a while they invert, and the 29/30-day cycles for grains are higher the next few days so we’re feeling confused as to how to take new positions. We can’t totally ignore the USDA report and yet the market is often vulnerable in April with competition from South America. Only cold and snow weather delays for planting are a plus.
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