Friday Night Rebound?

Posted by Nogger - a legend in his own mind at 15:58 | Categorized as

06/05/11 -- After steep losses yesterday and overnight, a few shorts appear to have emerged this afternoon, with crude oil up a dollar or two (having been USD4.00/5.00 down this morning).

That has seen Chicago grains trade a bit higher than the opening calls this afternoon with CBOT wheat currently up 13c, beans up 9-10c and corn 1-2c firmer. Even Paris rapeseed is showing strong gains, up around EUR10.00/12.00 after a week of declines.

Where it will all end is anybody's guess, but for now blind liquidation seems to be over. We have invasion of the bottom pickers.