Grains look lower on Monday

FOR MONDAY: (5/7) Grains look lower on Monday and recovering on Tuesday and then lower on Wednesday with the trade waiting on the USDA report on Thursday. Cycles are mixed into the end of the week but more inclined to see a negative report reaction. If wheat doesn’t get enough rain in drought-stricken areas, that…


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China optimism may bleed into morning action

FOR FRIDAY: (5/4) China optimism did us in and we should have just stood aside. White House Economist Mark Calabria commented after the first day of trade discussions in China that he was “optimistic” and that US has “discreetly” given China a list of asks and that the day ended “pretty positive.” However, what algos…


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Cycles overall seem weak

FOR THURSDAY: (5/3) Willing to sell the weaker beans and cattle and hogs if we can get filled. Cycles overall seem weak but not fighting beans or corn. JULY CHICAGO WHEAT (electronic ok) TODAY’S COMMENTS: (5/3) Bearish RSI divergence on the double-top on July but some patterns now project 539. Can’t sell a roaring bull…


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Wheat tour got grains going

FOR WEDNESDAY: (5/2) The wheat tour got grains going, and even though corn has no reason to be up here, it‘s following wheat. We usually don’t like to sell grains on Wednesday and will assume slightly higher prices. Open to sales on Thursday if patterns come in. Cattle and hogs should bounce a day but…


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Have to sell the pattern completion on wheat

FOR TUESDAY: (5/1) Wheat prices saw some contracts up double digits on drought concerns for some winter wheat production and planting delays for some spring wheat production. Wheat and beans opened higher in the Monday night session, with wheat having the strongest gains. Have to sell the pattern completion on wheat in the 519-20 region….


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Better chance for higher grains on Tuesday

FOR MONDAY: (4/30) Friday’s spurt on grains wasn’t shocking and we had suggested taking profits on short beans. Patterns had suggested that wheat needed new highs, and it appears that has a good chance. We would think that month-end profit-taking could hit on Monday and we’re not inclined to chase. We feel better about higher…


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Cattle should bounce

FOR FRIDAY: (4/27) The 29-day cycle is weak for grains and we favor lower prices into Sunday and maybe Monday. Cattle should bounce and didn’t fall much on Thursday, and hogs may hold and bounce a few days but are in trouble. Month end-position squaring by funds will distort things into Monday.


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Grains a bit overdone

FOR THURSDAY: (4/26) Grains are a bit overdone and we would expect prices to come off from highs into Thursday into early next week into Monday. Still, wheat might get a bit absurd despite no real news pushing it here. Cattle should pull back, and that pullback may last into Monday. Hogs are higher for…


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Grains should go up one more day

OR WEDNESDAY: (4/25) Grains should go up one more day but we’re skeptical about too much more. Cattle came off sharply with the US stock market and given that we see stocks down again on Wednesday, we won’t buy, but if they have a weak bounce, we probably will sell on Thursday.


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Beans close to key support at 1025

FOR TUESDAY: (4/24) Beans are close to key support at 1025 and corn held up well; wheat should hold 468 and do some dead-cat bounces. Cattle looks good for a few days to the upside and hogs should be down hard on Tuesday on a weak cold storage report. JULY CORN (electronic ok) TODAY’S COMMENTS:…


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