Financials: June Bonds are currently 13 lower at 142'13. This mornings Weekly Jobless Claims were down 27,000 vs. expectations of down 10,000. For the moment Bonds continue to be rangebound between 141'20 and 143'08. We continue to remain short in the money call spreads. Monthly Employment Report tomorrow morning.
Grains: Over night July Corn traded fractionally higher at 612'2, July Beans 2'6 lower at 1482'2 and July Wheat 3'0 higher at 617'0. Yesterday saw an across the board sell off on the lack of any new export news and continued excellent planting and growing conditions. That being said, I'm still awaiting lower prices for buying opportunities in July Corn. As for Beans, I feel they are overpriced at the moment.
Cattle: June LC are currently 42 higher at 113.30 after closing moderately lower yesterday. May FC are about unchanged at 149.95. Yesterday's action indicates to me that these markets are not yet ready for a strong price advance despite the discount to current cash prices.
Silver: July Silver is currently 43 cents lower at 30.20 and June Gold 19.00 lower at 1635.00. I am on the sidelines awaiting lower prices for buying opportunities.
S&P's: June S&P's are currently 4.00 lower at 1393.50. Treat as a trading affair between 1383.00 and 1403.00. I will be on the sidelines awaiting Friday's Jobs Report.
Currencies: As of this writing the June Euro is currently 8 lower at 1.3156, the Swiss 4 higher at 1.0960, the Yen 22 lower at 1.2458 and the Pound 14 lower at 1.6179. I continue to hold a negative bias on the Euro and I am now neutral on the Yen.
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