FOR WEDNESDAY: (9/19) Key numbers in on grains. Lower is very possible. Cycles are more mixed than higher into Friday so not seeing any need to buy with harvest pressure building. Hogs may get oversold and fall into Friday with no place to go. Cattle are mixed and we have a bias toward lower prices.
TRADING RECOMMENDATION: Wait for morning comments.
TODAY’S COMMENTS: (9/19) Lower support to 340 and 336.50. Buying is very countertrend and not finding too many cycles to pull this out but short-covering could develop from lows on Wednesday for a day. Wondering if we will get to 330-2 by the time harvest is complete.
CYCLES OVERVIEW: Bottoming early Wednesday and recovering on the day; lower into Thursday.
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