FOR MONDAY: (12/12) Assuming that cold weather will be an initial positive for grains as feed usage increases but wondering if the trade will hold up. Going with patterns that suggest selling a 3rd-wave rally and looking for another push lower to 348 on March corn and 1000 on March beans. Hogs are overdone and should come off and cattle should be a buy on cold weather and friendly cycles.
MARCH CORN (electronic ok)
SWING TRADING RECOMMENDATION: Exit longs market on open on Sunday night. Sell March corn market on open with a 364.50 stop.
TODAY’S COMMENTS: (12/12) The late rally was a gift and cycles had been positive and that’s why we didn’t give up. Still, the upper pattern to 365-7 seems a long shot right away and cycles on Monday seem lower and not thrilled with the outlook for next week. Thinking the market will fall another 12 cents to 348 short-term and then recover in a congestive pattern. Maybe a chance to see 365-7 this winter for a more significant sal
