FOR TUESDAY: (4/24) Beans are close to key support at 1025 and corn held up well; wheat should hold 468 and do some dead-cat bounces. Cattle looks good for a few days to the upside and hogs should be down hard on Tuesday on a weak cold storage report.
JULY CORN (electronic ok)
TODAY’S COMMENTS: (4/24) Support at 385 held and lower plantings are supportive for a dead cat bounce in the night session but will it take out 389? Support is at 380-1 if the market fails at 389 and turns back down. Hard to consider longs so we will leave it alone and may not have a sale until Thursday or Friday if bounces are weak.
OVERALL: Weekly charts are starting to look vulnerable, and it will be hard to take out 400 in the spring.
CYCLES OVERVIEW: Recovering into Thursday.
