Grains should go up one more day

OR WEDNESDAY: (4/25) Grains should go up one more day but we’re skeptical about too much more. Cattle came off sharply with the US stock market and given that we see stocks down again on Wednesday, we won’t buy, but if they have a weak bounce, we probably will sell on Thursday.Continue reading

Stocks look higher on Tuesday

FOR TUESDAY: (4/24) Stocks look higher on Tuesday but there’s an overall volatile cycle so markets could get whippy. Crude looked great and the correction may be over, and that makes us wonder if we can look for a slight new low on stocks on Wednesday. Will depend on if Tuesday’s rally is strong or not. Cycles are generally more positive.Continue reading

Beans close to key support at 1025

FOR TUESDAY: (4/24) Beans are close to key support at 1025 and corn held up well; wheat should hold 468 and do some dead-cat bounces. Cattle looks good for a few days to the upside and hogs should be down hard on Tuesday on a weak cold storage report.

JULY CORN (electronic ok)
TODAY’S COMMENTS: (4/24) Support at 385 held and lower plantings are supportive for a dead cat bounce in the night session but will it take out 389? Support is at 380-1 if the market fails at 389 and turns back down. Hard to consider longs so we will leave it alone and may not have a sale until Thursday or Friday if bounces are weak.
OVERALL: Weekly charts are starting to look vulnerable, and it will be hard to take out 400 in the spring.
CYCLES OVERVIEW: Recovering into Thursday.

Minor technical damage for stocks

FOR MONDAY: (4/23) Not sure what to expect over the weekend. The trade was not happy with the Democratic Party suing Trump and company and the insanity of it just seems another way of keeping negative press energy going. The inside scoop appears that Putin and Trump want to reconcile so there has to be a new media daze to keep people glued to their TVs. Some minor technical damage for stocks, and we’re bearish into the end of the month but need a good bounce to sell, and it should be there for a few days.Continue reading

Hard to get friendly toward grains

FOR MONDAY: (4/23) Hard to get friendly toward grains. We saw Friday sharply down but didn’t chase and now we may get weak bounces for a few days. Beans have a weak cycle on Monday and aren’t the one to bottom pick. Cattle on Feed report was considered neutral, but numbers seem negative and a 1-day wash-out would be good.Continue reading

Stock market close to issuing a breakdown

FOR FRIDAY: (4/20) One Fed Governor speaking on Friday and no other reports. Market close to issuing a breakdown but could do a secondary high into Monday and Tuesday. End of the week profit-taking will set in. Things not as tense as last weekend.Continue reading

Friday the weakest day of the week for grains

FOR FRIDAY: (4/20) Friday is the weakest day of the week for grains but beans just about have put in a pattern completion and only wheat is overbought enough to sell. We see higher grains early next week and most of next week and so sales on Friday may be day-trades. Trade waiting on the COF report, and we took profits on cattle.Continue reading

Grain cycles friendly on Thursday

FOR THURSDAY: (4/19) Cycles are friendly on Thursday but grains often come off and also cattle so we have to be defensive before the COF report. We could easily see corn and wheat hold up another day but beans look terrible and the grains look heavy. Trade will be position squaring before the COF report.Continue reading

Gold seems higher into Monday

FOR WEDNESDAY: (4/18) Cycles are friendly the next two days and we doubt the bears will easily take back control. Gold seems higher into Monday and the dollar lower and oil looks higher into the end of the week and Monday. We need to buy dips on stocks and crude and sell the dollar.Continue reading