Thursday February 18th 2010

Good Morning !

The March Corn traded lower in yesterdays open outcry session. Slowing down the momentum of bullish sentiment. In the overnight computer session a little more of the same trading at 358 1/2 which is down 1 1/2 cents. The range is 360 3/4 to 358 1/4. Funds are still net long and the bears will try to pressure this market. If they are successful it only opens the door to another buying opportunity. On the Energy Front were trading lower not so much due to the API but the release of Jobless Claims and PPI which is pressuring the Crude Oil and Products. We await the EIA Gas Storage and Energy Stocks. I anticipate a bearish number and tommorrow CPI number may reveal this market has topped out.

Have a Great Trading Day !