Financials: Sept. Bonds are currently 1'00 higher at 129'12. This mornings Monthly Employment Report showed a decline non-farm payrolls of 131,000 versus expectations of a decline of 60,000. The 2 Yr. Note now has a yield of less than ½%, a new all time low. The Bonds are now above yesterday's resistance of 128'28. I remain on the sidelines. Major resistance remains at 132'00.
Grains: Yesterday Nov. Beans closed 4 cents higher, Dec. Corn 3 higher and Dec. Wheat 59'6 higher. Over night Beans were unchanged, Corn 2 lower and Wheat 9 higher. Wheat was quite volatile having a range of 805'0 to 868'0 before settling this morning at 825'0. Yesterday's announcement by Russia to ban exports of Wheat for the rest of the year should should keep volatility high in the Grains for for an extended period of time. We remain long out of the money call spreads in Dec. Corn.
Cattle: Yesterday Live Cattle closed 25 lower in the nearby Aug. contract and 50 higher in deferred contracts, well off the intraday highs. Feeder Cattle closed 100+ lower as expected ginven the higher Grain markets. I am on the sidelines.
Silver: Sept. Silver is currently 16 cents higher at 18.48. We remain long the Dec. 20/22 call spread. I am still awaiting a close above the 18.50 level before predicting higher prices in the near term.
S&P's: Sept. S&P's are currently 10.50 lower at 1113.00. This mornings Employment Report is having the expected result in this market. Long term resistance remains at the 1129.50 level. Near term support is currently 1104.00. We remain short the Sept. 1140 call.
Currencies: As of this writing the Sept. Euro is 91 higher at 1.3266, the Swiss 97 higher at at .9644, the Yen 101 higher at 1.1751 and the Pound 53 higher at 1.5930. The Sept. Dollar Index is 48 lower at 80.45. I remain on the sidelines.