Wednesday April 7th 2010
Good Morning !
Last nights API numbers showed a rise in Crude Stocks of 3 MLN BBLS and A decline of Gas Stocks of 3 MLN BBLS while distillates showed an increase of 723,000 BBLS. After yesterdays rally were trading 66 lower at 8618 at this writing. The range thus far has been 8700 to 8612.We look ahead for the EIA number to be leased at 9:30 CST which makes me wonder if we could get the running of the bulls snared. With Stocks trading weaker and dollar stronger let's see.
On The Corn Front we are trading at 345 which is down 1 ½ cents currently on the Electronic session The range is 348 ¾ to 344 ¾ and is threatening to sell off further. Again the higher U.S. dollar and rains are out of the weather forecast could lead to more Selling.
Have a Great Trading Day !