Monday August 23rd 2010
The December Corn is trading at 437 which is up ¾ of a cent.
The trading range so far is 437 ½ to 434. The rally in the Wheat seems to
be carrying the Grain complex with activity in the cash market. The crop in southern
Wisconsin and Northern Illinois is showing improvement with ears of Corn looking healthier.
This is still a far cry from a bumper crop and still waiting on the verdict of the crop in Iowa and
Indiana which is very stressed
Look to buy breaks in this market.
On the Energy Front we have the October Crude Oil trading 50 higher at 7432. The trading
range has been 7442 t0 7355. This market should have continuation of a selloff with us swimming
in supply and last weeks jobs number verifying choking of demand. I can only see prices heading
North if the Fed continues quantitative easing or an altercation with Iran that would disrupt the flow
of oil. This should have a mixed impact on Ethanol prices with Corn & sugar prices rallying and the
Energy complex in a selling pattern.
Have a Great Trading Day!
Call me for daily entry and exit numbers.
There is substantial risk of loss trading commodity futures and options.
Past performance is not indicative of future results.