FOR WEDNESDAY: (1/11) Congestive grain action likely before the USDA report on Thursday. We have a bias toward a positive reaction to the report for Thursday/Friday and corn isn’t falling as farmers aren’t selling and export demand is strong. Cattle look higher on Wednesday and may get very violent by Thursday as they are going up parabolicly. Freezing temperatures in the 20’s is spooking ranchers in the South.
MARCH SOYBEANS (electronic ok)
TODAY’S COMMENTS: (1/11) We got short and the market stayed under 1015. Much move above that and something is wrong. Not sure we will pull out much before the report but assuming the trade will want to be sidelined. .
OVERALL: With projected ending stocks on Aug. 31, 2018 projected around 400 million bushels, new crop could still have some upside, unless acreage estimates grow, or the money folks decide to pack up and go.
CYCLES OVERVIEW: Lower into January 11; higher Jan. 12-14; lower into Jan 17.
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