FOR FRIDAY: (11/2) Trump’s tweets and optimism about China trade pushed grains up sharply and created an early 1-day reversal. Higher prices are due on Friday and probably into Monday. Hard to buy corn with more harvest pressure before the weekend.
TRADING RECOMMENDATION: Wait for morning comments.
TODAY’S COMMENTS: (11/2) Three waves up projects 373.50 but the market closed off its highs, as everyone saw the bargains for hedging before the weekend on the spike to 371. Cycles are friendly so might see 373.50 and it will be harder to sell now, and not buying before a harvest weekend.
CYCLES OVERVIEW: Higher Friday into Sunday; lower into Monday.