FOR THURSDAY: (4/12) Going to go with longs on beans and corn if we can get good value. Will pass on wheat. Cattle are ok but still may erode on Thursday before they take off. We probably have to go with the cycle inversion cycle into Monday, as markets are not showing too many signs of pulling back, although wheat may have a chance and that will probably make us pause.
JULY CORN (electronic ok)
TODAY’S COMMENTS: (4/12) Computer models give a 91% chance for a move to 407.75. We did get filled on longs and doubt 393.50 or 390 will come out. Will go with the longs into Monday and prospects for inverted cycles. Ideal buy is more toward 396.50 and 393.50 if you want to buy.
OVERALL: The most important cycle low for April is due into April 16 and that may set up a buy.
CYCLES OVERVIEW: Key turn into April 16-17.
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