FOR MONDAY: (9/10) Logic has us thinking cool and wet weather over the weekend will spook grain traders higher although many normal cycles would be lower on Sunday/Monday. We are going with logic and we got long wheat and are open to chasing beans more than corn. Need a pullback into Tuesday to buy cattle. Canadian deal will not be done until later in the month and higher Chinese tariffs may be the wild card and straw that breaks.
OCT. FEEDER CATTLE
TRADING RECOMMENDATION: Stand aside.
TODAY’S COMMENTS: (9/10) Nice movement up. We could see 155.40 next week with key support at 151.00 probably a decent buy. Have to leave it alone. Not thinking it will be too energetic on Monday and without a pullback, it will be difficult to chase.
CYCLES OVERVIEW: Higher into early Monday; lower into Tuesday; higher into Wednesday; higher into Friday.
