FOR MONDAY: (11/27) Crude prices are project 6035 with cycle highs into Monday and that could keep grains bid. The dollar broke key support at 9300 and projects 9231. It’s possible that the dollar break is a game changer and will go to 8800 eventually. Lower dollar will help exports and seasonals should come to the rescue for grains. We have a bias toward selling higher cattle early next week but will decide by Monday whether to sell.
MARCH CHICAGO WHEAT (electronic ok)
TODAY’S COMMENTS: (11/27) We’re rolling to the March contract, which is trading 18.50 cents above December. The new lows finally got Dec. to 416 and much more but we’re not sure if it means much on a thin Thanksgiving holiday and when cycles point up next week. Not in a rush to buy with the break but not in a rush to sell.
Comments are closed.