FOR WEDNESDAY: (1/24) Have to get a bit more aggressive chasing short grains but they are still subject to weather. Seasonally one wants to be short the third week of January into early Feb. and cycles do look weak. Cattle have been subjected to winter conditions but should get some sell the fact action happening and they are overbought.
MARCH CORN (electronic ok)
TODAY’S COMMENTS: (1/24) Need to get a bit more aggressive chasing corn now as running out of time for rallies. Small chance of 355 and market got within ½ cent.
OVERALL: Weekly chart trendline support is at 338 and that seems a natural place this market will go this winter. Computer models give a small chance for 320 but we’re dubious.
CYCLES OVERVIEW: Lower into Jan. 24; generally lower into Jan. 31.
