Grains should hold up into Thursday

FOR TUESDAY: (12/13) Grains should hold up into Thursday but may not come down until after Dec. 20-21. For now we have to expect a lot of sideways trade and some bidding until 371 on March corn and 1070 on Jan. beans comes in.Continue reading

Looking for another push lower on March corn

FOR MONDAY: (12/12) Assuming that cold weather will be an initial positive for grains as feed usage increases but wondering if the trade will hold up. Going with patterns that suggest selling a 3rd-wave rally and looking for another push lower to 348 on March corn and 1000 on March beans. Hogs are overdone and should come off and cattle should be a buy on cold weather and friendly cycles.Continue reading

cycles suggest grain bounce on Friday

FOR FRIDAY: (12/9) Another USDA report day. Larger cycles suggest a bounce on Friday and market is overdone with pattern completions on beans at 1020-1 and 348.50 on corn at worst. That means at least a 3-wave bounce could come off of those lows. Profit-taking may set in on hogs as upper target has come and too hard to top-pick cattle with the weather.Continue reading

Grains should still be higher for at least one more day

FOR WEDNESDAY: (12/7) Grains should still be higher for at least one more day before position squaring sets in before Friday’s USDA report. We are inclined to expect topping action then and for the market to turn lower on Dec. 12-13  and probably into Dec. 15. Meats also look lower next week and the question is whether there will be a clear pattern completion on Thursday to sell meats.Continue reading

Bean patterns look complete

Bean patterns look complete and they lead the complex and may prevent too much more for wheat and corn. We’re moving stops down and will continue to look to take profits and need to be a buyer next week by early Monday if conditions warrant and set up. Cattle continue to issue technical sell signals. Leave hogs alone.Continue reading

Cattle cycles weak on Friday

FOR FRIDAY: (12/2) We may see end-of-the-week short-covering and bean patterns look complete and they lead the complex and may prevent too much more for wheat and corn. We’re moving stops down and will continue to look to take profits and need to be a buyer next week by early Monday if conditions warrant and set up. Cattle continue to issue technical sell signals and we’ll look to resell here with weak cycles on Friday. Leave hogs alone.Continue reading

Weak cycles for grains

FOR THURSDAY: (12/1) Grains faded the OPEC rally and we stuck with shorts but didn’t add to our positions because we’re approaching Dec. 1st and seasonals can turn up here. Normal cycles are weak here. Time to take some partial profits on shorts but still a good chance for lower prices on grains until at least Friday. Cattle continue to hold up but we do expect cattle down on Thursday and will decide what to do with it on Friday if it doesn’t fall much but it looks lower then also. Not sure how to play hogs with the rollover to Feb., which still needs to go higher.Continue reading

Month-end position squaring in play

FOR WEDNESDAY: (11/30) Grain cycles are still weak into Wednesday and month-end profit-taking should set in and we have contract rollover from the Dec. contracts which go into first notice. Cattle look ready to rollover into Thursday but we rarely like to sell hogs on a Wednesday. Month-end position squaring will also add a new twist to trading on Wednesday.Continue reading

Grain cycles still weak into Wednesday

FOR TUESDAY: (11/29) Grain cycles are still weak into Wednesday and month-end profit-taking should set in and we have contract rollover from the Dec. contracts which go into first notice. Meats are acting toppy also and we need secondary highs to get better risk/reward for new sales but they seem vulnerable to fall. Continue reading