FOR TUESDAY: (11/13) We looked closely at stocks cycles and most of them point lower into the Thanksgiving holiday and a few days afterwards into Nov. 27. We’re focusing on sales by Nov. 14 at the earliest. Dollar has a good chance to reach upper target of 9770 and 9825. Gold is a lower channel support and much under 1195 and timber will happen.Continue reading
Wheat surge offers little spillover
FOR TUESDAY: (11/13) Wheat prices got a big lift to start the week from a round of short-covering that was partially fueled by some domestic and global weather worries, plus some increasing export optimism for U.S. grains. We could get some upward momentum from it carrying into corn and holding beans up for a few more days.Continue reading
Stocks cycles point mostly lower into Thanksgiving
FOR MONDAY: (11/12) We looked closely at stocks cycles and most of them point lower into the Thanksgiving holiday and a few days afterwards into Nov. 27. We’re focusing on sales by Nov. 14 at the earliest. Dollar has a good chance to reach upper target of 9694.Continue reading
China concerns weighing on ag markets
FOR MONDAY: (11/12) Concerns about China are weighing on ag markets, as their growth is faltering and the reality of the Chinese losses are clear in the USDA reports. Winter wheat is losing ground on more moisture, and early winter snows in some areas are supportive. We need to continue to sell rallies in hogs and cattle, as those markets look lower next week.Continue reading
S&P looks lower Friday
FOR FRIDAY: (11/9) End of a tense week. Stocks look lower and we should sell rallies on gold and silver, and crude should be done and start a recovery for at least a week.Continue reading
Grains point higher next 1-2 days
FOR FRIDAY: (11/9) Wild ranges on grains are not definitive for providing too many new clues. We see upward action for at least 1-2 days and we’ll see how they act. Some cycles point higher into next Friday. Data is mixed and we worry about seasonals, which are lower into Thanksgiving. Cattle and hogs need to be sold on strength but are still a bit too oversold although that may be remedied soon.Continue reading
Stocks overbought but not done
FOR THURSDAY: (11/8) We always have a bit of paralysis before FOMC. Stocks are overbought but not done until 2863-66 or 2874 comes in. Logic suggests a recovery for the dollar to 9640-50 but will it hold? Gold isn’t acting well and we may throw out cycles, which are friendly into Friday, and assume it won’t take much to break this market.Continue reading
Grain cycles point higher Thursday/Friday
FOR THURSDAY: (11/8) Trade can often congest in sickly ranges before USDA on Thursday, and that makes for boring trade. If you want to gamble on higher prices on Thursday, you can nibble at long corn and beans on Wednesday night or Thursday. Need a bounce on meats to get any risk/reward to sell.Continue reading
S&P close above 2755 confirms bullish pattern, cycles
FOR WEDNESDAY: (11/7) With absentee ballots and recounts, we may not get final result for a month but we will get a trend in the morning. Cycles are supportive for a surge overnight and this market will be impossible to play now and probably not in the morning either. As always, waiting on news and always too many surprises with this backdrop, and with the sell-off in gold and silver it seems the trade is banking on the dollar coming back.Continue reading
Corn will probably hold 375 region until USDA report
FOR WEDNESDAY: (11/7) Trade can often congest in sickly ranges before USDA on Thursday and that makes for boring trade. If you want to gamble on higher prices on Thursday, you can nibble at long corn and beans on Wednesday. Need a 2-3 day bounce on meats to get any risk/reward to sell.Continue reading