AGRICULTURAL MARKETS OVERVIEW

FOR FRIDAY  : (12/21)  Pre-holiday position squaring is notoriously dangerous. While we did get a friendly Cattle On Feed report, we also have to deal with cold storage during trading hours and who is going to stick around on Friday?  Grains look lower next week if there are no wild surprises out of Washington and China as we move into the end of the year and Friday as the best chance for the market to do some sideways upward movement.  Given Thursday’s technical sell-off, we wonder if traders will just pound corn down to key support at 369 and beans down to 884.50 and take no prisoner.   We hate pre-holiday trading and hopefully you can give it a rest.