FOR WEDNESDAY: (6/13) We have looked for a recovery into Monday but it may be in 3 waves. Not sure stocks numbers are good enough to negate excellent corn but oversold conditions may allow a bounce. Beans look terrible and wheat is crazier than I’ve seen in years so not going to touch it on Wednesday.

TODAY’S COMMENTS: (6/13) Beans gave up their gains and cycles are lower on Wednesday so the chances for 950 and 940-44 are high, and computer models are projecting 923. There may be a day-trade sale on Wednesday for aggressive bears but the market is pretty beat up and should recover o Thursday. Fourth-wave bounce target is 981 but that could develop from lower levels. We’re open to a bounce into June 18 wonder if beans will eventually wash-out all the way down to 900 before we get even close to the summer and pollination problems. OVERALL: Monthly chart trendline has key support at 949-53. More than likely a year with a June low and then pollination problems in the summer and recovery but unclear where yet.
CYCLES OVERVIEW: Lower into Wednesday; higher into Thursday; higher into June 18.

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