FOR FRIDAY: (11/3) Grains held up well and had decent comebacks and that will allow us to remain open to selling better levels later. Cycles are mixed on Friday but we’re open to higher prices Sunday and Monday and then we get pre-USDA report congestion ahead of the Nov. 9 report. Meats should recover some of Thursday’s losses and those markets went too far too fast this week. With end of the week position squaring, we’re going to let the markets settle lower.
JAN. SOYBEANS (electronic ok)
TODAY’S COMMENTS: (11/3) No reason to sell beans early. Market hit key resistance at 1000.75 with major resistance at 1003.50 and 1010. Market likely to hold 990 on pullbacks. We will hold out for higher prices into next week. Market held key support at 980. That means that pullbacks have been tame and might allow a
CYCLES OVERVIEW: Sideways Friday; higher Sunday and Monday.
Comments are closed.