FOR MONDAY: (11/20) The week of Thanksgiving is usually higher for grains and we can still buy for a few days still and usually they’re higher through the first party of Thanksgiving week. Cattle on Feed report was bearish but will be hard to get in but may get a chance with lower action for a few days. Hogs probably lower a few days.
DEC. CORN (electronic ok)
TODAY’S COMMENTS: (11/20) Corn gained back the week’s losses but was pretty much net even on the week. The week of Thanksgiving is often higher. Current patterns project 346 and 348.50. Patterns look like one more slight new low to 336 would be ideal but not clear when it will come in. We will need to roll to the March contract after Thanksgiving and often we can get a spurt the week of Dec. 1 that is worth playing. Cannot rule out a fall the week of Nov. 27.
FUNDAMENTALS: Brazil’s second corn crop in Mato Grosso could take a moderate yield hit compared to 2016/17. Total production is expected at 984.2 million bushels, which is 18.75% lower than a year ago.
CYCLES OVERVIEW: Higher into Monday.
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