Wheat and Rice Downtrends Continue
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GRAINS: 5/26/10 Lower closes for for corn, rough rice, Minneapolis, Kansas City and Chicago wheat along with soybeans, soymeal and soyoil. All of the wheat continue to be in downtrends with Chicago wheat making a new CONTRACT LOW AND CLOSE. Corn settled lower as its choppy action continues unable to break through the same area it's sold off from several times before. The overall trend for corn is still down while trading, basically, between 360 and 380 (July) since late March. Oats and rice closed lower this time with rice making a new CONTRACT LOW CLOSE both continuing to be in strong downtrends overall. The bean complex closed lower with beans making their lowest low and close since February, meal since the middle of April and oil since the beginning of February. Meal is also still very close to a sell signal. SELL SIGNALS FOR MINNEAPOLIS, KANSAS CITY AND CHICAGO WHEAT ALONG WITH OATS, ROUGH RICE, SOYBEANS AND SOYOIL.CALL FOR DETAILS!
CURRENCIES: 5/26/10 Higher for the Japanese Yen and dollar index while lower for the Canadian and Aussie Dollar along with the British Pound, Euro Fx and Swiss Franc . The euro and franc(lowest low and close since March 2009 again) settled lower again still in obvious downtrends overall although the euro did settle at the higher end of its session's range. The yen closed higher but at its lower end of the day's trading range although still in an uptrend. The Canadian Dollar made its lowest low and close since March 2009 also in a downtrend with most of the currencies.The pound and Aussie Dollar (lowest low and close since last August) closed down moving lower overall. The dollar closed higher again with its second highest close of the move while coninuing its violent ways! BUY SIGNALS FOR THE JAPANESE YEN AND DOLLAR INDEX. SELL SIGNALS FOR THE EURO FX,SWISS FRANC, BRITISH POUND,CANADIANAND AUSSIE DOLLAR. CALL FOR DETAILS!