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GrainsGuru

  1. Midsession dip due to crude falling apart. Liquidation across the board with bean oil acting as weak leg.
  2. A slightly higher session lacking any gusto with the trade waiting for WASDE tomorrow. Macros are slightly supportive.
  3. Slow trade as the market moves into holiday mode. Wheat weak due to technicals with beans/corn working well.
  4. Early liquidation of longs in corn and beans while wheat is buying back shorts. Weak price movement overall
  5. 725,000 MT of corn sold to Mexico. Over 1.0 MMT this week alone. Big numbers expected during harvest.
  6. Big market reversal due to falling macro markets and profit taking against weak length. Wheat leads downside.
  7. Corn 54 fron 39: beans 89 from 75 Harvest catches up in beans but remains well behind in corn. Small factor.
  8. Corn held the 200-day MA out of the gate. Offers good upside technical momentum to trade...beats fundamentals.
  9. http://www.aces.uiuc.edu/news/stories/news4933.html DDG article from U of Illinois!!!
  10. DDG kicked out of rations in SE causing soymeal spike. This is carrying whole floor.
  11. Check out my latest appearance on #CNBC at http://www.youtube.com/PitGuruTV! #grains #futures
  12. GSCI reweighting for 2010 has corn at 7.1% and beans at 7.9%. Heavy increases caused big buying in corn.
  13. Early break in market finds no sellers. Giving back part of yesterday"s ill found gains. Sluggish with vol down slightly
  14. Strange market situation today. The daily range for corn is larger than the range for beans. Very rare.
  15. Volatility getting hammered across floor. Corn down 4%, beans down 2% and wheat down 4%. Points to further break.
  16. Fed hints they will raise rates...spurs inflation concerns...gold moves higher pulling AGS with it. A fadable rally.
  17. Higher macro markets following existing home sales numberspoint to higher than expected AG market opening.
  18. Export sales supportive for beans with over 1.0 MMT shipped to china while bearish for corn and wheat.
  19. Funny stuff: asking for a quote on the SMZ 280 put. Pit response' "they suck" sometimes this place is worth it.
  20. Possible blow off top today. All markets are sagging after early strength. Weather supporting the fall. More to follow...