FOR MONDAY: (4/16) Will wheat prices drag grains lower on Monday? Profit-taking set in but only wheat is showing very stressful signs. With a low going into this key weekend, we’re may see the market pop out of here–and even if we get a low on Monday, we expect higher prices into April 25-26 next.
JULY SOYBEANS (electronic ok)
TODAY’S COMMENTS: (4/16) We bought beans and still like them. Resistance up to 1085 and 1095 and 1105 before we have to worry about going short. Larger cycles are friendly into April 25-26. Worst downside is 1054 and 1047 but doubt we’ll see that.
CYCLES OVERVIEW: Volatile Monday; generally higher into April 25-26.
