Thursday, October 1, 2009

Grains Fight Headwinds Today


Grains are down today despite freezing temps and almost certain crop destruction. However, the grains are only off slightly, despite that the broader markets are in steep decline today. After the drop at the open, grains have churned sideways throughout the day. Tomorrow will be interesting, because there is a tendency for grain traders to liquidate their positions before the weekend. Weekend weather can change the dynamics very quickly.