Sell on Rosh H, buy back on Yom Kippur.. Today is day to buy em back as far as stocks go.. Dow is currently up 100 points so that old adage seems to be paying off in the indexes
As far as grains are concerned, last night saw the typical volatile thin markets.. Nov beans traded up the 37 1/4… then fell off over night…currently at 921 down a nickle, corn is up about penny at 355 and DEC wheat bounced 8 cents and is at 457.
Gold is up about 3 bucks and the US dollar is slightly higher…
As for the grains, there was some news that China bought 225 mt of beans over night… the window for a frost is rapidly closing with there only being about 2 more weeks where a frost would impact the crops… I am sure the bulls are doing a snow dance at this point, because that’s what it would take to get this ball rolling substantially higher… at this point we have good resistance in Nov beans at 940 and in DEC corn at 340… Those levels should hem us in for the time being..
All information continues towards a scenario where the crop is large and getting larger for the corn…This will have weigh on any bullish sentiment, as long as the supply keeps growing daily with the harvest.