The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Grain TV is a daily recap after the market close, providing opinions on fundamental analysis of market direction, influences and expectations. This daily program is produced by Grain Hedge, a discount brokerage firm that provides farmers and elevators with agricultural intelligence including live market quotes, cash bid data, the Grain Hedge Optimizer™ and mobile trading platforms, all for $7 commission per side. Grain Hedge provides tools to allow farmers the ability to trade when the markets move without having to wait for a broker and the information to execute a marketing strategy with confidence.
We saw grains trade mixed today with corn and soybeans making up ground late in the day. The screen capture below is taken from the Firetip platform and you can see that the Dollar Index is once again testing recent highs. This should provide some overhead resistance, but the deteriorating situation in Europe will certainly outweigh any technical resistance if this situations continues without resolution. Today's trade lacked conviction either way, but I'm sure the bulls are happy to see grains make small gains even as the Dollar Index picked up steam.
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