FOR TUESDAY: (5/22) Despite the strong Sunday rallies, the smart trade knew to sell. Grain cycles look lower into Tuesday and probably Wednesday. Crop plantings were better than expected and not likely to provide much relief. The issue may be how much more corn get in Michigan and Wisconsin.Continue reading
Gold, silver look higher next week
FOR MONDAY: (5/21) We’re moving into a pre-holiday week and the trade may be going home after Wednesday. Monday morning looks lower for stocks so we’re open to a pullback but it may end up being a buy into Tuesday. Gold and silver look higher much of next week as does crude, and the dollar should pullback next week.Continue reading
Beans seem safest to sell
FOR MONDAY: (5/21) Grain cycles look lower into Tuesday and probably Wednesday, and they may not have far to go after strong rallies. Beans seem safest to sell but corn failed to issue a buy signal. Can wheat carry the rest of the complex higher or will the forecasts change over the weekend and overbought conditions lead to a pullback? Not going to sell wheat but can get away with beans shorts. Meats look higher this week, but Monday can be volatile, and it’s always hard to buy this early-week dips.Continue reading
Crude fundamentals, trend remain strong
FOR FRIDAY: (5/18) Traders aren’t taking too much home for the weekend lately so end-of- the-week position squaring may hit for stocks and crude. Trend and fundamentals remain strong for crude, and our target for crude continues to be 7900 this summer. S &P not likely to fall dramatically, and chances are it will be a buy on Sunday night.Continue reading
Grain cycles point lower on Friday
FOR FRIDAY: (5/18) Starting to sense that grain cycles are more likely to be lower on Friday, but we could get a surprise over the weekend. Have to get short in case something bigger happens to the market. Cattle should continue short-covering.Continue reading
S & P still looks higher into next week
FOR THURSDAY: (5/17): We had a reversal due for currencies for Wednesday, and it may have come in with Italy getting their act together. Still, a fall in the dollar may not be more than 2-3 more days and not be very much. S & P still looks higher into next week with Thursday higher. Gold may retrace overdone conditions now.Continue reading
Grains, meats too oversold to sell
FOR THURSDAY (5/17): Thursdays aren’t usually kind to grains or meats but there‘s a friendly cycle into mid-day that may allow a recovery. Meats and grains are too oversold to sell and if new lows come early, the trade may short-cover.Continue reading
No major sell signal yet for stocks
FOR WEDNESDAY: (5/16): Trade a bit on edge with war game exercises spooking the North Korean President. Higher interest rates make 3-year bills a win over stock dividends and 10-year note over 3% is a bit of a take-the-money-in-May-and-run play. Stocks haven’t put in a major sell signal yet but are on the edge. Patterns on bonds look deeper into next week so the writings on the wall there.Continue reading
Grains look higher on Wednesday
FOR WEDNESDAY (5/16): Grains may have bottomed for the week and look higher on Wednesday and probably into Friday. Meats are due for at least a one-day bounce. Still, grain and hog markets could yield unexpected surprises on Wednesday due to a surprise cycle so watch these markets carefully on Wednesday.Continue reading
Lower dollars for next few days
FOR TUESDAY (5/15): The Dollar recovered late as stocks gave up their overnight gains following remarks from Commerce Secretary Wilbur Ross that seemed to pour cold water on Trump’s overnight tweet on ZTE and hopes that a trade war with China was easing. We see lower dollars the next few days so not sure what will change overnight but overall, we’re looking for pullbacks on stocks into Wednesday but still open to new highs if 2700 holds into Wednesday’s low.Continue reading