AGRICULTURAL MARKETS OVERVIEW FOR TUESDAY: (4/11) Another USDA report and this one is too soon after the March 31 reports. Market oversold going into it as of Sunday night but not so much for corn now. We have a bias toward higher grain prices into Friday but need to buy value if we can still get it. Meats are acting sickly but we still would buy cattle and usually hogs are higher into Wednesday.

JULY SOYBEANS (electronic ok)
TRADING RECOMMENDATION: Wait for morning comments.
TODAY’S COMMENTS: (4/11) Market did get to the 951 region which was a buy zone but we didn’t put any orders in ahead of the report–and the fact that it is the weak sister and here early is not exciting. The bearish pattern would suggest a collapse to 916 and isn’t favored. The more likely pattern is a recovery to 981 this week. If the market holds the old lows into the report, there may be a buy for the aggressive trade.
OVERALL: Once the report gets out of the way and the market gets over oversold conditions, we have a downward bias still into early May. Need better number to sell from. Seeing at least 933. Freefall on the daily chart would project 895. May look for a 1-2 day bounce and sell again very soon.
SHORT-TERM: (3/13) The most bearish patterns into late April and early May are suggesting 933. Weekly chart recovery target may only be close to 1100.
CYCLES OVERVIEW: Higher into April 13; lower into April 14.

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