FOR TUESDAY: (12/13) Grains should hold up into Thursday but may not come down until after Dec. 20-21. For now we have to expect a lot of sideways trade and some bidding until 371 on March corn and 1070 on Jan. beans comes in.
MARCH CORN (electronic ok)
SWING TRADING RECOMMENDATION: Hold March corn shorts from 359 with a 364.50 stop.
TODAY’S COMMENTS: (12/13) Corn could hold up one more day but if it does not fall much on Wednesday, it may hold up into Thursday. Still possible to see 371 before it’s all done. Minor resistance is up to 363 and 366 and wouldn’t expect much more. We’ll wait on selling more and if the market doesn’t fall much on Wednesday, we may cover shorts.
CYCLES OVERVIEW: Higher Tuesday; lower Wednesday; higher Thursday; higher into Dec. 21; lower into Dec. 23.
