Beans: The commercials still seem intent on swing trading beans, having gotten short last week and shorter this week. The funds went from long to longer, and the small specs got a little less short. The price structure does look like we will see some downwards action next week. Volume has been low, implying the players are waiting.
Corn: Thoroughly rotten was this week for corn bulls. As often happens, when major press stories break, prices do the opposite of what the public thinks. Last weekend we saw headlines in most of the press about the heat wave killing grain in the
Wheat: Commercials sold off some of their longs, while funds are now long for the first time since June of 08. Wheat has the same price structure as beans, both looking like they would like to come down a bit.
Heat domes in
COF Report essentailly neutral- HOGS push closer toward contract highs- by Paul Nelson
Regulation That Kills Jobs