Grain cycles for rest of October look lower

FOR FRIDAY: (10/5) Grains held up well on Thursday. We’re OK putting in buy for beans from lower levels but wheat isn’t close enough to ideal buy zone of 510. We looked at Oct. grain cycles. Open to the market holding up next week but it’s harvest time and not sure we can count on…


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Mixed cycles next few days

FOR THURSDAY: (10/4) Trade didn’t like Powell’s hawkish tone, and bonds sold off heavily and stocks followed. Cycles are mixed the next few days but we have had a bias toward a retracement into Friday and that has to have us concerned. If it’s not severe, we‘re still open to 2960 into next week. Usually…


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Tricky fighting harvest pressure

FOR THURSDAY: (10/4) Not thrilled with grain action on Wednesday and we see beans lower and it could drag the rest of the complex down. If grains hold up ok on Thursday, we could still see a recovery on Friday. Still, it’s tricky fighting harvest pressure, which could kick in quickly if rains let up.


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S&P looks higher into Wednesday

FOR WEDNESDAY: (10/3) Lots of Fed Speak on Wednesday and trade congesting into Friday’s employment report. Coming up to a lot of turns and will be hard for stocks to go up too much past next week. The dollar looks like it will run out of steam and oil also while metals look like they…


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Lot of turns on the weekly chart ahead

FOR MONDAY: (10/1) First of the month fund buying should start. Research on the 12-year cycle that kicks in mid-October suggests lower dollars for a year and higher metals, and we’re starting to sense that the Oct. seasonals for stocks may fail unless 2950 isn’t taken out early in the week. Lot of turns coming…


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Beans probably a buy by Tuesday

FOR MONDAY: (10/1) USDA’s quarterly stocks report was the main driver in grain markets on Friday, delivering mostly bearish news. Corn futures tumbled more than 2% by Friday’s close, with soybeans down more than 1%. The agency’s stock report had more bullish news for wheat, but those futures also ended around 0.5% lower amid some…


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Day after an FOMC meeting often

FOR THURSDAY: (9/27) Not sure we learned much from the FOMC meeting except that the market was overbought and end of the month profit-taking is needed. Still, Oct. seasonal buying isn’t far away and they will jump on buying the corrections over the next few days. Doubt that the political circus on Thursday will have…


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