FOR MONDAY: (12/18) The worst of the weak cycles should be over on Sunday night and we should at least get a bounce for a few days before new shorts set up on grains. Cattle look lower the first few days of the week and hogs aren’t clear. We find that meat markets get very thin during the holidays and are hard to manage so we’ll mostly leave them alone as we get closer to the holidays.
JAN. SOYBEANS (electronic ok)
TODAY’S COMMENTS: (12/18) Support at 959 and 956.50 would be a countertrend buy for scalpers. If weather hits, market could rebound to 985. We find these markets to be quite boring and probably will sell by Tuesday to be short into the end of the week but now at key support and oversold.
CYCLES OVERVIEW: Lower Sunday; higher Monday/Tuesday; lower Dec. 20-22; higher Dec. 26.