Chicago Opening

Posted by Nogger - a legend in his own mind at 15:34 | Categorized as

12/01/11 -- Shortly after the opening beans and corn are testing the daily limits with corn up 29 1/2c and beans up 67c. Wheat is following suit up 27c, with soymeal up USD20 and soyoil 195 points higher. Can the market hold onto these gains or will fund rebalancing drag it all lower by the close?

16.30 PM Update: grains off highs after corn and beans hit daily limits earlier. Wheat the laggard at "only" 15/17c firmer. Just got a sneaky feeling that things might work a bit lower on profit-taking towards the close of play.