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Buxton ND | This is contract low for new crop corn,we're trading 3.67-.68 we need to move UP AND AWAY from this level,The longer we trade here increase the chances of a dip BELOW 3.65, IMO that dip will find lots of sell stops,hit stops below this level,more so near the close and we could hear that flushing sound to 3.50
Yesterday's 4% Q2 U.S. GDP was a little better then expected,interest rates re-acted,,,so did the US Dollar as did the Dow and crude. Crude the thyme there is "we're leaving"
The Viagra dream,,,,,,,,,, I forgot to include rising MA = moving averages, This IS the dollar right now and has been for a couple of weeks. A strong dollar is not a plus to commodities. If this dollar keeps up the rally,we can trim harvested acres and yield and its not gonna be a big deal.
E/RBOB spread is currently .70ish,this is weaker then the months past,still historically wide but its been weakening, Jon may post about yesterday's E-stocks. | |
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