FOR TUESDAY: (9/25) Expecting a pullback on Tuesday. Nothing bullish in the crop conditions report. We do see higher meats the rest of the week but hard to chase hogs at current levels. Still like long cattle and may get one more pullback early Tuesday for a buy on feeders.
DEC CHICAGO WHEAT
TRADING RECOMMENDATION: Stand aside.
TODAY’S COMMENTS: (9/25) Wheat finally broke out a bit hitting 531. Market projects 537 with pullbacks holding the 521-3 area for a buy. Will give it a day but probably have to buy on Tuesday night at the latest but upside seems limited.
CYCLES OVERVIEW: Topping and lower into Tuesday; higher Wednesday; higher into Friday.
