FOR THURSDAY: (11/2) Grains held up well and had decent comebacks and that will allow us to continue to be open to selling better levels later. For now we at least expect a recovery into Friday. Cattle still look higher for at least another few days.
JAN. SOYBEANS (electronic ok)
TODAY’S COMMENTS: (11/2) Market held key support at 980. That means that pullbacks have been tame and might allow a move to 100.75 into the end of the week or even higher. Support at 988.50 overnight with resistance up to 1000.75 and 1010. We may consider a buy on Thursday if there’s no downward backlash. Risk/reward on buying is gone and we’ll evaluate in the morning.
CYCLES OVERVIEW: Recovering into Friday.
