FOR MONDAY: (4/4) Grains may hold up on Tuesday and pull back into Thursday and we have to be patient here. Cattle look sideways to lower into Wednesday and hogs are due for a comeback.
JULY SOYBEANS (electronic ok)
TRADING RECOMMENDATION: Wait for morning comments.
TODAY’S COMMENTS: (4/4) Looks like 946 will hold and we’ll get a 1-day bounce and we have to be patient. We exited beans for a 1.75-point profit and our decision looks good now with support at 946 and then down to 933 and 921. We have a bias toward lower cycles into Thursday but there’s no place to put a stop. Freefall on the daily chart would project 895. May look for a 1-2 day bounce and sell again very soon.
SHORT-TERM: (3/13) The most bearish patterns into late April and early May are suggesting 933. Weekly chart recovery target may only be close to 1100.
CYCLES OVERVIEW: Lower into Thursday; higher into Friday.
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