FOR WEDNESDAY: (3/1) The corn market got very excited about Ethanol and its possibilities in the speech tonight and we had the most exaggerated move we have had in a long time that finally settled down to reality. Still, we are at a buy point in terms of timing and seasonals but cycles are rather complicated and volatility should increase the next few days. Meats are harder to chase now but still possible and some cattle cycles are higher into Friday.
JULY CORN (electronic ok)
TODAY’S COMMENTS: (3/1) We bought 1 July corn on Tuesday night. Market could retest the 375.00 area but doubt that we will see more downside. Not sure anyone survived Tuesday’s action. In the end we like higher prices and seasonals the first weeks of March.
CYCLES OVERVIEW: Higher Wednesday; lower Thursday; higher Friday.
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