FOR THURSDAY: (5/31) Grains still look lower on Thursday with short-covering possible o Friday. We still have to do research on next week but the market looks like it could have a sharp rebound if new weather comes into play so stay on guard.
JULY SOYBEANS
TRADING RECOMMENDATION: Wait for morning comments.
TODAY’S COMMENTS: (5/31) Missed sales here also. Market may not go much past 1031-2 for new sales with support at 1009. Month-end profit-taking may hit so we’re going to pass. May see 998 before this move is all done.
CYCLES OVERVIEW: Lower into Thursday; short-covering Friday.
