It appears that we’re starving the bull and/or boring it to death as there’s no apparent urgency to step up and take extended coverage of any grain or oilseed………………………………………..The world financial climate remains edgy as there continues to be concern over the situations in Italian banks and Britain over Brexit! And, there remains a lot of concern over earnings reports and the bearish implication to the US equities but, Boeing alleviated some of the fears this morning…………………..Given no real weather problems today it’s difficult to generate much buying enthusiasm given the comfortable carryover situation with corn and beans and time of the year with wheat……………………
There’s just no urgency to own grains right now and with the world having the potential to go into “bunker” mode financially gravity could just allow grains to slip as we approach the end of harvest and first notice day against the November bean contract……………………………………..Feels like a slow rim leak lower today……………………………….But, end user interest could be found near 365 CZ, 502 WZ and 844 to 848 SX…………………………….
The information contained on this site is the opinion of the writer and obtained from sources cited
within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices.
Steve Bruce
Walsh Trading
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