Knock, knock, knocking on limit's door
Overnight soybeans & corn are sharply lower again this morning with both commodities just shy of another limit down move. So as not to feel left out soyoil is also following suit.
With beans & oil so weak, meal is the strongest leg of a poor trio and is trading around $5 easier.
Wheat openend steadier, supported by last night's Egyptian business which came out afetr the close. It's mixed now however with nearby May down 11, Jul down 4c & Sep +2c.
Checking out other soft commodities sees coffee, cocoa & sugar also marked sharply lower this morning as the shake out continues.
Even gold & crude oil haven't escaped this latest setback, with gold down 8% from it's record high earlier in the week of $1033.90 to currently stand at $915.
Before I can finish typing some months in beans & oil have now hit limit down.
Right then so who wants to buy anything now before the market goes lower?
With beans & oil so weak, meal is the strongest leg of a poor trio and is trading around $5 easier.
Wheat openend steadier, supported by last night's Egyptian business which came out afetr the close. It's mixed now however with nearby May down 11, Jul down 4c & Sep +2c.
Checking out other soft commodities sees coffee, cocoa & sugar also marked sharply lower this morning as the shake out continues.
Even gold & crude oil haven't escaped this latest setback, with gold down 8% from it's record high earlier in the week of $1033.90 to currently stand at $915.
Before I can finish typing some months in beans & oil have now hit limit down.
Right then so who wants to buy anything now before the market goes lower?
