LOOKING AHEAD TO MONDAY BY REFLECTING BACK ON FRIDAY'S ACTION

Oats look bullish but the Soybean complex still technically bearish; Hogs in a bear triangle.

GRAINS: 10.05/09 EXPORT INSPECTIONS. CROP PROGRESS. Lower closes Friday for Minneapolis. Kansas City and Chicago wheat along with corn, rough rice, oats, soybeans, soymeal and soyoil. All of the wheat look extremely bearish with KC and Chicago making new contract lows and closes. Corn has been basing since August and is forming a potential bottom but, at this time, I have no positions in this grain for the time being. I still have a buy signal in oats its after selling off the last two trading sessions putting this grain back into the middle of a trading range going back to August. Also oats are now in a good support area. Rough rice also closed lower still in a down-trend making lower lows and lower highs overall. The bean complex closed lower with beans and meal making new recent lows and closes looking lower along with oil.

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MEATS: 10/05/09
 Lower settlements on the 2nd for live and feeder cattle along with lean hogs and pork bellies again. The trend for the beef complex continues to be lower overall with the December cattle contract making a new contract low and close while the feeders made their lowest low and close, basis the November contract, since '08 once again but this time not rallying. Hogs closed lower now in a bear triangle very close to giving me a sell signal. basically trading sideways to lower over the last nine trading. I still have a buy signal barely in place. Bellies made their lowest low and close in a month. Now bellies are in a good support area but no trade recommendations at this time.

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