When the grain and soy markets opened this week, there was much wailing and gnashing of teeth, which in commodity parlance means margin call liquidation. In hindsight, that was wrapped up in relatively quick order, and the combined group has filled gaps that were left when markets opened and returned…
Market Commentary
Daily Comments
Everyone was marched out to the woodshed yesterday for a dressing down, and while prices have snapped back overnight, it is difficult to regard it as much more than a dead cat bounce at this point, particularly seeing that the strength has fizzled as the day has progressed. That said,…
Daily Comments
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…