Prices or moving faster than CoT reports: Only technical analysis remains.
Oct 10, 2010
There is nothing quite like sharp moves near the end of the week to put the CoT reports out of touch with reality. This is the second consecutive week that has happened.
Beans had a huge Friday. Upward action that attracts buying here should be good for another dollar, to 1245 +/-.
Corn generally had an ambiguous week until Friday. That put a bullish spin on things. Along the lines of beans, another 50¢ to 560 +/- may well be in the works, should the funds come in as major buyers on Monday.
Wheat will be towed along, should corn and beans move. If you are trading here, long wheat would not be my choice.