While not with the same exuberance as the week prior, the grain and soy markets did begin trade this week on a positive note, which makes the overall weekly performance that much more disappointing for the remaining bulls. We have now slipped down to the lowest level traded since January,…
Commentary
Daily Comments
“The world breaks everyone, and afterward, many are strong at the broken places.” – Ernest Hemingway (Commemorating what would be his 123rd birthday) Whoever coined the phrase, no news is good news, was obviously not involved with commodity markets. Granted, there is nothing that you could necessarily identify as bad…
Daily Comments
Here at midweek, one of the most encouraging things that one can say about the grain and soy markets is that we did not extend lower after the discouraging washout from the previous week. I would add that we have several technical indicators that have pushed well into oversold positions,…
Daily Comments
Yesterday’s recovery in the grain and soy markets is now just a fading memory as we have pretty uniform pressure across the group this morning. While this could be little more than turnaround-Tuesday type trade, bulls lack fresh incentive to stand in front of this pressure, so for now, the…
Daily Comments
While by no means a runaway at this point, grain and soy markets are now uniformly higher this morning after a slightly defensive start to the week. There does not appear to be any specific news generating the buying interest; I suspect the outlook of rising temperatures in the U.S….