FOR FRIDAY: (11/24) Option expiration for Dec. grains will dominate thin holiday trade on Friday. We do see higher grains next week and hogs look like they will bottom early next week and turn up into Dec. 1st. Cattle may continue short-covering and set up new shorts by early next week.
DEC. CORN (electronic ok)
TODAY’S COMMENTS: (11/24) Market hit 347 and came off. Option expiration is on Friday and the key price of puts and calls with the most volume is 350 so the chances of the market expiring near there are high so option writers won’t have to pay up. We see the market higher next week and will roll to the March contract by Monday. Will leave it alone for Friday.