FOR MONDAY: (3/19) G-20 rhetoric on Monday/Tuesday may impact trade fears with China. Cycles are suggesting lower prices for grains for a few days. Cattle is due for a 1-2 day bounce but probably lower into the end of the week. Hogs are oversold but patterns suggest lower prices.
JULY CORN (electronic ok)
TODAY’S COMMENTS: (3/19) Support at 387 and 385 with major support at 383.50–and 379.50 if they really start dumping. Bounces early in the week may recover only to 393-394. Cycles are complicated into this Friday but we have more of a bearish bias. May be too late to sell unless we get a bounce to 393-4 into Tuesday or Wednesday. Given complicated cycles this week, we’ll take one day at a time.
CYCLES OVERVIEW: Bottoming by Sunday-Monday; congestive into Tuesday; lower into Friday.
