I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
Most of my screen was “red” yesterday, as most commodity markets traded lower. That weakness may not continue for all markets, but there does seem to be “risk off” feel right now, which I think is usually bearish for physical commodities. I think that was likely sparked due to the bullish over-reaction on Crude Oil and related products last week, and the subsequent huge selloff and bearish reversal that started in those markets Sunday night. Stock Indexes have turned higher, new highs may be here soon. Cattle markets are near support, but the short term momentum is bearish. Grains are lower again this morning. Bearish news from Brazil (a large 20 MMT increase in 2nd Corn crop) and Brazil/China (increasing the amount of Soybeans and products that will meet China’s GMO standards) is weighing on Corn and Beans.