Good Morning!

Finally! We have intelligence reports that Iran has been harboring Osama Bin Laden and his second in command gangbanger punk Ayman Al-Zawahari along with other high ranking al Qaeda leaders. We had no doubt that it's not beneath Ahmadinejad and the rest of his pukes. Not too brave. They can talk a good game on videos but can't come out from under the rock the COWARDS crawled under. Hiding in Iran for five years? Sounds like a great target to me to send these louses to the Inferno Regions.  British Petroleum Chief Operating Officer Doug Suttles told Associated Press that the oil flow should decrease to a relative trickle by Monday or Tuesday. The President will be on hand in person to see the progress. This time I think his focus should be on foreign policy and war in the Middle East and possibly the Korean Peninsula and not another photo-op.

Stocks are trading higher after yesterdays rally. There was pressure early in the overnight market only to turn around and rally late in the Asian session and gaining strength here. Also the U.S. dollar is trading lower which should help boost commodity prices today.  We have July Corn trading at 337 ¼ which is unchanged in the electronic session.The trading range has been 338 ½ to 336 ½. The warm front is ahead of schedule and and we expect more rains today and await the massive heat dome going into tomorrow's grain reports. Might see some more squaring of positions in today's trading session.  On the Energy Front we are trading at 7289 which is up 89 points at this writing. The trading range has been 7300 to 7203 and looking to make new highs. The Energies are trading higher due to a lower dollar and strength in stocks at the moment. I still remain bearish but can't discount geo-political concerns that could disrupt shipping product in the Persian Gulf and Korean Peninsula which would ignite a spark to the bulls.

Have a Great Trading Day! Call me for daily trade recommendations and open a trading account.  

There is substantial risk of loss trading commodity futures and options. Past performance is not indicative of future results!