Following Fed Chairman Ben Bernanke's statement yesterday that the Fed will now take seriously the devaluation of the Dollar and cease it's interest rate cutting cycle, commodities are moving broadly lower. Talk is, ultimately, just talk. It remains to be seen whether talking the Dollar higher will be seen as supportive of the greenback, but it is certainly welcome news indeed. Now, if we can just get Congress to stop spending...Grains have opened stagnant this morning, but slightly higher. If the Dollar rebounds with any strength, fund selling of the grains may be the result, possibly sending prices lower. Could a downtrend in grains be the result? It seem hard to believe as long as demand remains strong and cold, wet weather conditions continue into the grain growing season.
