FOR WEDNESDAY: (11/1) Sometimes first of the month fund buying can save grains but cycles are pretty weak and deflation continues dominate. At this point we have to see what kind of bounce manifests into Friday if we are lucky for grains. Meat cycles also point higher into Friday and despite parabolic movement, it may not stop.
JAN. SOYBEANS (electronic ok)
TODAY’S COMMENTS: (11/1) Cycle lows due on Wednesday and then we’ll see what kind of a bounce can manifest into Friday. Key support really needs to hold at 990 if we’re to have any chance for a decent bounce. Too late to sell the last day down.
CYCLES OVERVIEW: Lower into Wednesday; recovering into Friday.
Comments are closed.