FOR WEDNESDAY: (2/21) Grains reacting to dry SA weather forecasts and probably will be supportive another week and possibly longer. Have to buy grain dips. Meats look like they may be overbought by Tuesday and be a light sale for a few days, and we’ll take profits on short hogs.
MARCH CORN (electronic ok)
TRADING RECOMMENDATION: Wait for morning comments.
TODAY’S COMMENTS: (2/21): Market got close to 371 and turned back. Recovery likely to 368 but need to see 370 come out to feed this one. Not seeing anything worth doing here. Wheat pressuring corn for now.
CYCLES OVERVIEW: Higher into Wednesday; retracing Thursday; higher into Sunday.
