First remember the Dec. contracts come off the board tomorrow
Monday the 14th.
So far the Dec. Corn range for the month is 379.25 and low of 361.25.
Again and just a repeat, how much more "Bear" grain news is out there.
We wait to hear what the new Pres.of Arg. is going to do with the export taxes
and IF the Peso is going to be devalued. There inflation rate already exist at 25%.
There is more Farm Bankers balking at extending some operating loans here in
the US. Will that pressure grains and cattle to more new contract lows in Jan 2016?
March corn:
Sup: (373.25-369)
Res: (379.75-383.50) then 392.50 and (397-401)
Like to see support at the 20 day ma hold and we need a close on Friday
above 373.25
Weekly close above or at 381 will look very good.
Mar Beans
Sup: (873-869) and then (865.25-863)
Res: 880 then 887 and (891-895) IF
something crazy happens the rally could take us up to 915-918
I'm still looking to buy breaks and trade from the long side.
Its Xmas (for the Bulls).
Fed this week, rate going up or staying unchanged??
I'm still a cattle Bear.