FOR THURSDAY: (3/22) Mixed cycles into Friday. The 29/30-day cycles are friendly for grains, and logic says short-covering will hit cattle before COF on Friday. That makes most sense to us. There is a bearish cycle that peaks into late Friday but could lead to some more downward action, but we’re going to favor some optimism and short-covering for at least 1-1.5 days.
JULY CORN (electronic ok)
TRADING RECOMMENDATION: Wait for morning comments.
TODAY’S COMMENTS: (3/22) Resistance up to 385.50 and 388.50. Cycles are mixed, and lower support never came in at 378.75 so nothing to so in the middle. It’s a scalp buy at 379 and a sale at 388.
