Grains Pause On Improved Weather Cattle Finds A New High

Lower trade was noted as we have a short term cool down ahead and moderate rains. July still has yet to fill its intra-day gap open down to 597 1/2. It has also yet to really confirm the H&S bottom formation on the chart with a good breakout. December spent three days over its H&S breakout point and today retreated under (not unusual). Both contracts are in three week uptrends. Export sales tomorrow morning should be bearish ahead of USDA's Friday report.

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