Is the bottom in? Let’s go get em and buy! The Soybeans seem to trying to bottom after. The horrendous break after Friday’s report. Corn has held support and in the overnight electronic session the December contract is currently trading at 725 ½ which is 2 cents higher at this writing. The trading range has been 728 ½ to 722 ¾ so far. I refuse to take my bull horns off in this complex even after the recent selloff.
On the Energy Front the December Crude Oil is currently trading at 8541 which is 3 points higher in the overnight electronic session. The trading range has been 8600 to 8514 so far. The API data released last night showed no major surprises and the market is glued to events in the Middle-East, recovery in the North East of our nation and headlines of Natural Gas that it is a reality we can be energy independent and a net exporter of this precious commodity.
The only question is how can the government and lobbyist fumble the football this time?
Call me for daily entry levels.
Have a Great Trading Day!
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