When Do Grains Join the Long Party?

Wheat:
Kansas City wheat posts an outside day up, signaling potential short-term reversal.
Resistance holds near 505 to 507.
Market needs follow-through for confirmation.
Chicago wheat shows a key reversal day but remains technically weak.
Global production expectations from Argentina and Australia still weigh on sentiment.

Corn:
Corn edges higher off the 410 support zone.
Conab lifts Brazilian corn output slightly above last month’s projection but below trade expectations.
Technically, corn continues a slow bleed with potential to test 404 before forming a double bottom.
Upside reversal would need a close above 431 to confirm.

Soybeans:
November beans defend $10 support despite attempts to break lower.
Conab trims output slightly from last month but remains above last year’s crop.
Potential wave three rally could trigger above 1030 toward $11 if momentum returns.
Yields likely overstated, possibly near 50.7 bushels per acre, tightening carryout projections.

Cattle:
Live cattle continue wave five advance toward 270 on strong momentum.
Feeder cattle surge, potentially targeting 282 to 400 depending on wave extension.
No major supply flow from Mexico; seasonal high possible by early December.
Market remains technically bullish despite being in final stages of upcycle.

Crude Oil:
Minor bounce today amid overall bearish trend.
Wave structure points to continued decline into year-end.
Rallies toward $60 seen as sell opportunities within larger wave three downtrend.

Metals:
Silver rebounds sharply from last week’s drop, possibly targeting $55 before correction.
Gold nears new highs around $4200, aiming for $4400 as wave expansion completes.
Seasonal trends suggest a pause ahead of late-year softness before rallying into February.