FOR TUESDAY: (12/5) Grains still could correct into Wednesday before we will rebuy. Cattle is due for a bounce and hogs still look higher much of the rest of the week.
MARCH CORN (electronic ok)
TODAY’S COMMENTS: (12/5) Market most likely to go to 350.25 over the next few sessions before recovering later in the week. We took partial profits but we like to leave a core positon on so as not to miss a sudden surge. Not likely through part of Wednesday but we’ll want to buy back. Exit and bounces and rebuy Wednesday. May see 364 next into Dec. 17-18.
OVERALL: After the first week of Dec., seasonally the market is often sideways to lower; could hold up into Dec. 15-18 at best.
CYCLES OVERVIEW: Higher Tuesday; lower into early Wednesday; higher Thursday; lower Friday.
