LOOKING AHEAD TO WEDNESDAY BY REFLECTING BACK ON TUESDAY'S ACTION
The focus this morning is on Grains and the Bullish turn.
GRAINS: 10/14/09 Higher closes yesterday for oats, soybeans, soymeal, soyoil, Minneapolis, Kansas City and Chicago wheat along with corn and rough rice. A lot happened on Monday. I received Buy Signals for Minneapolis, KC and Chicago wheat on Monday as shown below. Corn took out the all important 376 price basis the December contract also on Monday. Oats settled higher again making their highest high and close since the beginning of July also once again. Rough rice made a strong close again helping to verify my buy signal from last Thursday. The bean complex also had a strong close again, making their highest closes in over three weeks, with beans and meal also giving me Buy Signals for Minneapolis, Kansas City and Chicago Wheat; along with Corn, Pats, Rice and the Soybean complex.