FOR TUESDAY: (11/28) Crude prices are projecting 6035 over the next week or so and that could keep grains bid. The dollar broke key support at 9300 and projects 9231 but much below that and 9155 would be serious. Still a few days for the dollar to break and that will help grains. The 29/30 day cycles are weaker the next few days but many of the other cycles are positive into Friday and we often see a seasonal flurry of grain buying Dec. 1-5. Chances are we’ll have to buy this dip but we’ll be patient.
JAN. SOYBEANS (electronic ok)
SWING TRADING RECOMMENDATION: Hold Jan. bean longs from 984 with a 979.50 stop.
TODAY’S COMMENTS: (11/28) Not wanting 989 to come out and market should easily get to 1004.50 if you want to take more partial profits near there. If we’re patient, we should see 1019.21. Beans are holding up well. We took partial profits on Friday at 999.00 and will hold the rest into next week.
CYCLES OVERVIEW: Generally higher into Dec. 1.