FOR WEDNESDAY: (8/29) Patience worked, as lower numbers are in on beans and corn and retracement on cattle gave us better risk/reward. Now we just need them to go up now!
TODAY’S COMMENTS: (8/29) We have hedges on and will most likely keep them until seasonal weakness is over in late September. Lower support could fall to 353.00 and 348.50 if the market can’t get above 366, which is a minimum 3-wave bounce target. Closer to a bottom.
CYCLES OVERVIEW: Lower into Wednesday.
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