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Strategies & Market Trends : Grain Futures Trading -- Ignore unavailable to you. Want to Upgrade?

To: nicewatch who wrote (319)	12/9/1998 12:45:00 PM
From: MJR	Read Replies (1) \| Respond to of 645

Looking at the daily charts through yesterday's close here are some comments: March Corn: Trend is definately down. Have to wonder if it will retest the lows of about 210 set in early September. For now, support seems to be at the 216 mark with psychological support at 220. Until bullish news is released, can't see a reason to initiate a long here. Jan Beans: Trend is down in a similar situation to corn. Looking to retest the 560 level? If we break that, look for possible declines to the sub 540 levels? Feb Lean Hogs: Hard fall still in progress as supply way exceeds demands. Last 5 sessions allowed traders to short at the open and cover at the close for profit. Not sure that will change much anytime soon until demand picks up and/or supply shrinks. New lows being set daily.