Sunday Night Expectations, 7-29-07

@ 5:25 pm, 7-29-07

Weather doesn't offer a threatening story. The NWS 6-10 and 8-14 day models suggest reasonable temperatures and some rain chances for most areas, including recent/current areas of concern in the northwestern Midwest.

Crude oil is weaker. The stock market is stabilizing at Friday's closing values, but this was sharply below the level stocks were at when grains closed on Friday.

The calendar is ticking by and we lack a meaningful weather/production concern--from a national perspective.

Most private analysts are raising US production ideas. Demand expectations seem to be faltering from once optimistic expectations due to concerns about Chinese demand and slower US ethanol expansion ideas.

Overall price action is weak and the C-O-T data suggests we can continue to experience liquidation pressures.

It seems that we have little reasons to expect sustainable strength tonight and a lower trade right out of the gate would not be an unreasonable expectation.

Duane

Published Sunday, July 29, 2007 5:22 PM
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