FOR WEDNESDAY: (11/30) Grain cycles are still weak into Wednesday and month-end profit-taking should set in and we have contract rollover from the Dec. contracts which go into first notice. Cattle look ready to rollover into Thursday but we rarely like to sell hogs on a Wednesday. Month-end position squaring will also add a new twist to trading on Wednesday.
MARCH CORN (electronic ok)
SWING TRADING RECOMMENDATION: Hold March corn shorts from 358.50 with a 363.50 stop.
TODAY’S COMMENTS: (11/30) Major break has us wishing we had more on. Support at 342.50 with bounces probably not taking out 350.50. Too early to look for the old breakdown target to of 330.50, which daily charts could project. Given lower projections on wheat, we should stay open and hold shorts into Friday.
CYCLES OVERVIEW: Lower into Nov. 29-30 and Dec. 1-2; higher into Dec. 9.
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