FOR TUESDAY: (2/20) Grains reacting to dry SA weather forecasts and probably will be supportive another week and possibly longer. Have to buy grain dips. Meats look like they may be overbought by Tuesday and be a light sale for a few days, and we’ll take profits on short hogs.
MARCH CORN (electronic ok)
TRADING RECOMMENDATION: Wait for morning comments.
TODAY’S COMMENTS: (2/20) Corn firm overnight and may ride the coattails of beans higher. Market probably is tiring but still could see 371.50-372.50 before it’s done. Hard to chase up at old resistance. Not much of anything here.
CYCLES OVERVIEW: Higher into Wednesday; retracing Thursday; higher into Sunday.