Just wondering how secure the jobs data is… I find it interesting that Thursday before the report, stock indexes move sharply lower and low and behold there is a worse than expected jobs report. The Dow is around 450pts lower from its recent highs, and the s&ps are also sharply lower.
Is this a natural correction after a 57 percent run up? yes, but I just have to question the timing and the market action which preceded today’s action.
I imagine all the markets will be lower across the board in sympathy with this action.
Overall, it will have an initially bearish tone to the grains.
After that we will have to see how crude responds. I would be watching crude oil, gold, and the stock indexes in that order.
It is Friday, the end of the week, so we should see some evening up of positions. generally the direction of the morning trade should hold through the day, with some head-fake price gyration thrown in for good measure.
C