FOR THURSDAY: (9/27) Trade waiting on Friday’s USDA reports. Those reports are also happening at the end of the month when funds square position and before a harvest weekend. Cycles for Thursday look potentially lower so the trade may cash in their chips. Cattle may hold up all day but we will move stops up.
NOV. SOYBEANS
TRADING RECOMMENDATION: Wait for morning comments.
TODAY’S COMMENTS: (9/27) The 17-cent drop off of the highs is ugly and would suggest a retest of at least 837. Some patterns suggesting 866 and 880 thereafter. Going to leave it until the morning but it’s probably a light sale and then we have to gamble on the Friday reaction to make some money.
CYCLES OVERVIEW: Higher into Friday.
