FOR MONDAY: (3/6) Grains still look lower a few more sessions so we’ll be patient about chasing these markets. We do see a recovery higher on grains Wednesday and Thursday but wonder if the market will be skittish before Thursday’s USDA report. We’re going to need to exit short cattle to be on the safe side although cycles are volatile and lower patterns haven’t come in. Cycles are very volatile the next few days and it will be safer to wait for things to settle down before establishing new positions.
JULY SOYBEANS (electronic ok)
TODAY’S COMMENTS: (3/6) Cycles seem to volatile and vulnerable the next few sessions for us to stick around so look to exit at 1047 and we will look to rebuy in a few days. We’re not going to deal with selling this market.
FUNDAMENTALS: (2/27) Counter-seasonal rallies over winter sometimes are a good thing in the soybean market, putting futures on a bullish trajectory to keep rising into spring and early summer.
CYCLES OVERVIEW: Lower Monday and probably Tuesday; recovering Wednesday/Thursday.
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