This morning I read an astute comment by one of my favorite financial writers, John Authers, formally of the FT and now with Bloomberg, “Markets run on narratives.” While yes, the direction they take should be influenced by economics, world events, currency valuations, supply/demand expectations, etc., ultimately, it is the…
Commentary
Daily Comments
Rather discouraging performance yesterday, particularly for bean bulls as they let post-report gains slip through their fingers and watched prices finish lower for the session. Seeing a market close negative after a positive report is rarely encouraging, and now to add insult to injury, with the pressure we have witnessed…
Daily Comments
While overshadowed by the reports to be released later this morning, bulls will find little to cheer about in the weekly export sales data. Wheat was the only commodity that would be considered even remotely decent, coming through at 496,700 MT or 18.2 million bushels. The top three buyers were…
Daily Comments
While not particularly thrilling, grain and soy markets have been in recovery mode this week, and this, after testing out the foundation set back in the March/April time frame. While they did find a few creaks and cracks in the floorboards, it was still solid enough to push away, but…