Risk On (For Now)

28/11/11 -- It's a positive start to the week, with a sea of green across the board on what appears to be a risk on Monday morning. A week is a very long time in this market though, so I wouldn't go getting too carried away just yet.

Italy may be in for a bailout from the IMF. That is the latest rumour sweeping the globe which has got Asian and European stock markets higher this morning. NYMEX crude is almost three dollars higher and at USD99.72/barrel is threatening to break through the USD100/barrel mark.

Soybeans are around 18-19 cents firmer, with corn up 11-12 cents and wheat 8-10 cents higher in overnight trade, essentially reversing Friday night's losses plus a little bit more.

European grains are likely to follow suit when the markets open here.

However, one handout doesn't make a summer. It hasn't turned things around for Greece, Portugal or Ireland so why should it be any different for Italy?