With about fifteen minutes to go, only the meal and beans remain slightly higher on the day, with corn lower and wheat sharply lower with Dec testing the 450 lows…Crude remains lower on the day as well… it remains to be seen if the funds will extend the selling into the close, but typically on a Friday, the close witnesses either a continuation of the overall move of the day… in this lower, after trying early to rally and then falling back due to the pressure in the wheat and corn…
There is always a possibility for a 5 to 8 cent rally to punish weak longs who came to the party late, and perhaps sold it in the hole, in an attempt to profit from any violent continuation.
Stock indexes are slightly lower, along with crude gold and silver are both down, gold over 7 bucks and the silver flirting with the 16 dollar support level… The dollar is strengthening somewhat on these moves…
Wheat is the big mover of the day, down almost 20 cents…
As we go into the close in the next ten minutes, i would look for a continuation of the selling of wheat and corn and buying beans against it.. Corn is presently down about 4 to 5 cents.