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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 […]

The US dollar traded under 76 cents, making new lows, and the Gold made a new all time high at 1062.70, Silver got up to 17.80…. The world wants commodities… The world wants something tangible…

As we wait for tomorrows USDA Crop report ensures we will have more fireworks in the grain markets…Today we saw what looks to be a double top in the corn at 370… If per chance we gap open higher above that level tomorrow, I think that 400 is a slam dunk..December wheat settled at 474, up 10 3/4 cents, with it also poised to go for 500 on any super […]

Today in the Grain Market we saw evening up of positions through the lunchtime hour, with corn, wheat and beans posting daily highs around 12PM CST.. we then saw a pullback through the afternoon when the market failed to continue its grind higher…

The weather for cast did not give any fresh urgency to a freeze warning, and the bad weather by and large seems to have been factored into the market over the past 7days.. Traders who decided to get bullish too late in the game, may be sadly surprised if come Monday we have a buy-the-rumor-== sell-the-fact action on Monday…

Also we are […]