FOR MONDAY: (6/4) Cooler weather the next few days may dampen drought fears even if temperatures are scheduled to go up later. Still, traders go with what they tangibly feel so the market should keep eroding but reach a climax low in the next few days for grains.
JULY SOYBEANS
TRADING RECOMMENDATION: Wait for morning comments.
TODAY’S COMMENTS: (6/4) Ideal pattern completion at 1009 or 1005 or 998 but it doesn’t have to happen if there’s some weather surprise over the weekend. We may buy the market early next week if target is hit. Market probably needs to take out 1035 to issue a more solid buy signal. We’ll be open to buying a low early next week.
CYCLES OVERVIEW: Lower into Tuesday; higher Wednesday.
