FOR THURSDAY (12/7) Bean cycles are weaker than the rest of the grains and usually we don’t push longs on Thursday but larger cycles suggest that we can be long wheat and corn for a few days. Cattle is seasonally lower into Dec. 10 and looks like it’s in trouble so still can sell one more day or so.
MARCH CORN (electronic ok)
TODAY’S COMMENTS: (12/7) Almost filled here. Three waves down projects 349 so we’ll lower our order. Market should do 5 waves up now and the first move up on the continuation chart was 25 points and on the March contract it was 14 cents so at least another 14-cent move from 349 would project 363. Market should hold up into Dec. 17-18.
OVERALL: After the first week of Dec., seasonally the market is often sideways to lower; could hold up into Dec. 15-18 at best.
CYCLES OVERVIEW: Higher Thursday; lower Friday.
