FOR TUESDAY: (2/27) March grain first day notice should create some profit-taking there, and that’s why we can’t be long those contracts. Cattle should bounce 1-2 days and hogs look terrible technically but may stabilize and bounce on Tuesday.
MARCH CORN (electronic ok)
TODAY’S COMMENTS: (2/27) Market closer to 372 sell target. Three waves down projects 362.75. Much below 360 and a minor sell signal will get generated. Market not doing anything but worth a sale if 372 comes in. Also a problem with rollover to July beans coming shortly and is reason to find a place to get short.
CYCLES OVERVIEW: Lower into Wednesday; higher into Thursday; lower into Friday.
Comments are closed.