Wednesday, January 23, 2008

Soybeans Lock LImit Reached, Commodities Broadly Down


More sellers, more hedge funds are liquidating their commodities, including soybeans. Lock limit has now been reached. This close to the end of the market session, any trader would have to seriously consider whether it is worth taking any additional trades today. Crude oil, gold, sugar, cotton, coffee, and many other commodities prices are down significantly today. Wheat and corn have also now reached their lock limit down price levels for today.

I need to start looking for an ETF that shorts commodities, so I can buy it for my IRA!