Pretty Quiet Day since most Jewish individuals are not at work today due to the holiday.
Indexes remain higher on the day,
And in the grains, there has been quiet trade after the opening half hour or so. Nov beans are stuck trading between 920 and 925, Dec corn is 3 cents higher at 337 Dec wheat is higher at 554, Nov beans are 3 cents lower around 921..
Generally, I would advise to do nothing between around 12 and 1245… typically we will set up for one more pop at that point..
Generally, the grains remain a choppy trade now, with good solid moves intra day being few and far between. So much seems to be just noise which a trader must ignore.
Barring any change in the weather forecast, the funds will be in a position to dress up their current positions for the close of the month and the close of the quarter this Thursday.
Nov beans remain vulnerable to a push back down to the 904 level… If for some reason we can pop above 940, that would open door for some short covering and could fuel a bounce to the 950 level, but that depends on demand news as well as any change in calling for a frost before October 11Th.
The crop is just about made, and the farmer is bringing in his corn with what looks to be a big crop that keeps getting bigger.
Time will tell…But generally, big supplies translate to lower prices longer term.
cool site.