FOR WEDNESDAY (12/5) Grains are in transition on Wednesday and we’ll put orders in, as many could bottom early and then close higher and be higher the rest of the week. Cattle should be higher another day and usually we can count on hogs being higher on Wednesday.
MARCH CORN (electronic ok)
TODAY’S COMMENTS: (12/6) We snuck out of the rest of longs in case this market breaks more than expected. Open to buying on Thursday if 350 holds on Wednesday. Market most likely to go to 350.25 over the next few sessions before recovering later in the week. May see 364 next 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: Lower into early Wednesday; higher Thursday; lower Friday.
