FOR WEDNESDAY: (11/15) Getting close to the seasonal low for grains before Thanksgiving. It may come in by the close of Wednesday, as some cycles look higher now from Thursday into Tuesday. We’re covering Dec. grain hedges to be safe. Meats are in trouble but hogs due for a 1-2 day bounce.
DEC. CORN (electronic ok)
TODAY’S COMMENTS: (11/15) Exited more partials at 337.25 on Tuesday night. Getting a first projection to 337 with additional support at 332.75. Not seeing much bounce potential but always good to bank partial profit profits if you have multiples. Possible that seasonal low may come by Wednesday, as cycles improve into Monday, and the week of Thanksgiving is often higher. Lower target on daily chart to 314 has only a 33% chance and we will also cover hedges on Wednesday.
CYCLES OVERVIEW: Lower into Wednesday; higher Thursday/Friday; higher Sunday/Monday.
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