FOR FRIDAY: (3/16) Grains continue to be whippy with Chinese trade fears and other craziness happening. Soybean prices saw a double-digit drop Wednesday amid expectations for a huge 2018 U.S. crop, and corn also trended lower, but wheat hung on for some small gains as traders contemplated export data, weather trends, South American crops and more. We’re working on our spring and summer forecasts and hope to publish longer-term overview soon.
JULY SOYBEANS (electronic ok)
TODAY’S COMMENTS: (3/16) The market went to 1035 and more and we wonder if the lower target of 1021 is going to happen. Not pressing sales anymore but too late to early to buy. Market close to needing a 3-wave recovery next week.
CYCLES OVERVIEW: Bottoming by Sunday; higher into Monday.
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