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Today has seen some volatile trade in the Crude, as well as in the Dollar Index. Over night, we saw the grains make a run with almost a 30 cent break from 99 to 71, failing to fill the gap in SX down at 68… Looking at the charts, that looked like a downward spike in thin overnight trade…

There is currently some talk about rain delaying the farmers from getting the beans out of the fields…Also the trade is anticipating the Index Funds will be selling wheat and corn in response to CFTC position limits… Perhaps they will be buying beans as they […]

The Dollar and the grains de-coupled last night. In prior weeks, we saw lower dollar as supportive for the grains. As of the overnight session, it seems that that trend has run its course. Perhaps a case of buy the rumor/sell the fact.

Overnight saw Nov beans down 20 cents, trading as low as 971, a definite rejection of the 1000 level for now, CZ was down 10 cents at 372 1/4 and WZ also fell 10 cents trading as low as 504 over night.

Crude oil remained above the 75 dollar mark, but the metals both remained below their recent contract highs..

We were […]

The grains opened higher posted their highs around 10AM CST, trended lower through the afternoon, then rallied on short covering into the close to settle mostly unchanged. At one point it looked as if there might be a sharper move down, after the 3 or 4 sessions of higher prices we have seen, but when that didn’t materialize, the shorts got out of their positions. SX alone rallied 8 cents off its lows, CZ rallied a nickle and WZ rallied almost 10 cents…

In the Crude market, the contract continued to ruminate around the 75 dollar level posting a high art 75.83. The stock […]

The weak dollar continues to be the story.. Gold made a new contract high last night at 1072, its currently trading ten bucks below that.. We continue to see that pattern, new contract highs, a flurry of trading, then the pros step on it for a ten to fifteen dollar break/scalp. I would continue to look for that action certainly until we break through the round numbers, being 1100, 1200, 1300.. Don’t see any reason why this freight train will change direction substantially over the next few weeks or months..

Fundamentally, the world does not want US dollars, and the fed is no position yet […]

The grains opened higher, made early lows, rallied back through the afternoon in choppy trade, attempted a run at the overnight trading highs and then melted through the afternoon. November beans alone posted a high in the afternoon at 10005, 7 cents below Monday night’s high at 12 1/4,, and then flushed 13 cents down to the 92-93 level… The 89 level looks like it will be near term support.

Similar action was seen in the Corn and Wheat, as Dec corn posted an afternoon high around 386 and then broke a nickle over the last 20 minutes of trade, while Dec wheat held up […]

November beans traded to 1012 1/4 over night, Dec Corn traded to 383, and Dec Wheat flirted with the 500 level, posting a high at 498.. Technically on the charts, especially on a weekly chart, it looks like we may have gotten slightly ahead of ourselves on the bull side.. We now are looking at two weeks in a row with gap higher formations..

Typically, these gaps serve as support/targets on the bottom as markets correct.. I am not saying we cant continue to roll higher, but usually there will be a correction down to fill these gaps, at which point, either its a […]

Commodities all higher across the board, as the dollar sinks again, while US equities are supported with better than expected earnings. In response, Crude is up 1.50, flirting with the $75 dollar level, Silver is up 9 bucks, flirting with the 1060 level, and silver is up over fourteen cents, trading to a high at 1799, approaching the 18 dollar level.. Over two dollar rally in silver over the past ten trading days. We have seen a dollar rally in Soybeans, and a 40 cent rally in both corn and wheat over the past 7 trading days alone…

Along the way we have seen the […]

This morning in Chicago Corn is called 5 to 10 higher and beans 10 to 20 higher…That puts us around 380 in CZ and 985 in SX. Wheat will most likely move higher in sympathy… I would watch the meal and oil to see if there is any confirmation. We should get support from the outside markets today with the Dow flirting with the 10000 level..

Apparently as we enter the ides of October, we will see if the surprise we have been waiting for is on the upside of that key psychological number in the stocks.

Crude Oil was up over the 72 […]

Today we saw the SX post its low in the opening range, pop higher early, saw consolidation around the 955 level, then proceeded to the 968 level settling at 967, up an impressive 31 cents… Corn trailed along, exploring the trade above 370, trading as high as 373, then settled up nine cents at 365…Wheat was the weak sister of the three, posting a high of 471, a low of 463 and settling down 5 -1/2 cents at 468.

In the outside markets, gold was 15 bucks off of yesterdays all time high, trading now around 1046, down 9 bucks on the day, ditto for […]

After this morning’s USDA report, early calls were for grains to be slightly lower to unchanged… The US Dollar, which seems to be driving these grain prices more than fundamentals is stronger today… The metals have backed well of yesterday’s all time highs, with a disappointing lack of follow through for any bulls who came late to the party in the metals.

Also, now, we are getting conflicting weather forecasts, which have the freeze being perhaps not as bad as had been imagined 3 days ago when it showed up in the 7-day outlook…

All in all, most traders probably anticipated a lower day in […]