Hi Jake,

Pretty much as expected, except I was hoping that beans would come a bit deeper.  Mid 830's has been the short term target and it missed it by a little.  The reversal looks good, and it has a lot working for it.  But, the last time they pulled this stunt, beans only had enough energy to get another 6 cents above the reversal bar, before they emotional buyers threw it back up into the actual pivot.  With that lower albeit upsloping target just below, I will am skeptical it leads to much.  But, price is flattening either way, a bigger bump should be coming soon.  A normal pullback should be good for 40 cents +.

Corn...The pullback has not reached it's expected depth of price, or length in time, so I expect today's bar to be the approximate midway point of the pullback - or sellers will snuff it out right away.  If they snuff it out tomorrow, that keeps the lower target's on the burner.  If they double the range approximately, IMHO, 3.18 would likely be off the plate for now and likely something around 3.45- 3.50 will stop it.    As price action has developed from the highs, it appears price is lacking the energy to reach the lower levels. Essentially, time price is restoring it's energy on the "X" axis and time is catching up. More likely as suggested earlier in the year, we remain range bound for 2016, likely trade back slightly above this year's highs, and that would terminate the larger pullback.  And that would give us the energy to target those lower lows.  As the sideways moves develops, we should be able to pin down the highs pretty close.

Wheat....is trying to turn the corner. I think it needs a bit more time, but 5.75 minimum expectation of  the upcoming rally.

Or so it seems to me..

Take Care