I talked this week about 100 dollar barrel oil being a fulcrum. It seems that supply/demand has finally reared its head, with gasoline, crude oil, heating oil and the whole complex coming under sell pressure.
One thing seems to be evident is 4.30 and plus gasoline affects all US citizens usage, be they “rich” or “poor”. With an average 20 gallon gas tank in a car, when you have to spend north of 85 bucks to fill up people think twice about gas usage.
July corn currently is locked limit offer, down 30 cents. there is a gap down below at 660-654 which beckons to the bears.
I will write more later when I’ve had a chance to really think.
Right now I am too busy.
Good Trading
CER