Grains: On Friday Beans were 4 lower, Corn 4 lower and Wheat 12 lower. Over night Beans were 10 lower, Corn 5 lower and Wheat 12 lower. We remain long out of the money calls and /or call spreads in July Corn. I am on the sidelines in Beans and Wheat until after the June 10th Crop Production Report.
Cattle: On Friday Live Cattle were 10-15 higher with the Aug. contract closing 15 higher at 81.15. If you remain long Aug. Cattle continue to use a protective sell stop just below the 79.00 level. If the market trades above 82.00 either take profits or raise your sell stop to your break even level.
Silver: July Silver is currently 40 cents lower at 14.97. I am currently on the sidelines and will be a buyer below the 14.60 level.
S&P's: June S&P’s are currently 8.00 lower at 932.50. Fridays early rally after the Employment Report did not hold but did make a new year to date intraday high for the June contract. As I mentioned Friday, the market may now be in an uptrend, however, I still need a bit more proof, such as the market closing above the 951.50 level. For the moment I am going to treat the S&P’s as a trading affair between 921.00 and 948.00.
Currencies: As of this writing the Euro is 91 lower at 1.3870, the Swiss 61 lower, the Yen 3 higher and the Pound 51 lower at 1.5924. We remain on the sidelines.