Wednesday November 4th 2009
Good Morning !
The December Corn is continues to ride a bull wave trading at 394 in the overnight session which is up 4 cents as I write. The range is 396 to 394 3/4. Harvest is still backed up with an Alberta Clipper sending wet weather and snow across the Great Lakes and Ohio Valley regions. Cooler and dryer weather are forecasted after this front heads east. This could squash the rally soon. I still anticipate rallies until we have a reality of good harvesting weather after the front and the density of crop damage which will play havoc on expected yields.
On the Energy Front we are heading to the upside as the Dollar continues it's collapse. Stay Tuned for the Weekly Inventory numbers due out today. This could make or break this market. Remember the Fed calls the shots today.
Will they follow Austraila's lead ?
Stay Tuned !
Have a Great trading Day !