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Buxton ND | Whatever Yellen said today the chart I look is EDX or the US Dollar chart. Dollar bully's loved what she said,dollar bears run for cover along with the gold bulls. EDX had a very strong rally on ape manure ballistic volume,if it not a record its close... JUST as it breaks to new highs...................
Since early spring traders have not seemed to care about grains or commodities in general (crude is no exception) ((just started AFTER the ISIS thingy)) I mentioned its like their trading something we do not know. This whole dollar deal that's been rallying for 2 months,kinda makes me wonder if some saw this strong dollar coming...Read between the lines........
This is bearish grains,much more so beans (as the REAL falls) our beans are more spendy on the world market while Brazil's are cheaper.............. All this "just in time" as Brazil starts there very early planting.........................
A $90 EDX by year end ? ? ? Be bearish our grains in general longer term guys.
Strong dollar rising interest rates ?
Back in the 80's the Fed seem to think they could control interest rates,,,,,,,,,hope it works better this go around........
Rising interest rates,,,falling gas prices at the pump is my very strong opinion. Nothing much will happen til after the election tho,except gas prices falling.
Kinda like lumber,interest rates fall,lumber (building costs) price rises,in the end that house cost the same..............
Then to finish this off for the night,crude made a rally just after Yellen's word,,,,,,,IDK about anyone else but i read suckers rally,sucking in those long traders as the big boys quietly slip out the exit door. My gas tank has been empty on the farm for about 10 days,in waiting................
I may be eating my bullishness in corn.
BTW cattle traders will watch a strong dollar...... | |
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