FOR TUESDAY: (11/14) Meats are due for a few days bounce but it may not mean much. Grains look weaker a few more days and beans fell enough to turn charts and start projecting a seasonal low toward 946 by Thanksgiving. Continue to use any strength to get short.
JAN. SOYBEANS (electronic ok)
TODAY’S COMMENTS: (11/14) We took partial profits on multiples at 981 and 977.50 and the market fell beyond those levels. Any remaining shorts can use a 990.25 stop now. The break looks rather serious and we can hold 1-3 more days at least. Daily chart channel support at 946 may be an eventual target before seasonals lows due by Thanksgiving.
CYCLES OVERVIEW: Lower into Wednesday.
