Monday, May 5, 2008

Grains Trading is Ugly Today

I have been trading primarily soybeans today, but have barely eked out a profit for the day. Corn isn't any better -- dead flat, and having barely moved from where the session started right around the $6.10/bushel line. Volatility is low, spreads are too wide, and slippage is greater than what is typical. I suppose that after an average to good week last week in which we had more than the average number of good trading days, we must endure a few days like this one. It keeps us humble and hungry. The crop report this afternoon may give great direction to the market, but for now, not much is happening.