FOR WEDNESDAY: (11/22) Never fond of holiday trade so best to continue to take profits on short cattle and long wheat, and we’re ok holding long beans. We do see higher grains next week and hogs look like they will bottom early next week and turn up into Dec. 1st. Cattle may continue short-covering and set up new shorts by early next week.
DEC. CORN (electronic ok)
TODAY’S COMMENTS: (11/22) Support at 342. Should see 348.50 if we’re patient. If corn is to get a new low, it should be after Dec. 1st. We need to roll to the March contract but see no reason to play over the thin holidays.
CYCLES OVERVIEW: Higher Wednesday; sideways Friday; generally higher into Dec. 1.
