Sunday night, 11-25-07

There is limited "news" to influence tonight's trade.

South American weather remains fine, but also still lends itself to fueling the fears that the trade is so quickly willing to embrace. Argentina will be mostly dry this week, with rains expected during the weekend and early next week. Brazil remains favorable.

The US hrw wheat region received some precip during the weekend, with more expected this week.

Outside markets appear fairly uneventful early tonight.

Technical conditions remains extremely extended and vulnerable, but nobody is willing to trade anything from the short side. Friday's price action will be seen as encouraging to the bull. Weather will continue to stoke the fear fire.

We may see trade on both sides tonight, but we still lack a set of inputs that will encourage selling activity.
Published Sunday, November 25, 2007 5:18 PM
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