Following a nice two-day rally in grains that suggested a possible new bull trend, grains sold off overnight, giving up much of the gains in the second day of the rally. A surging Dollar is being given the credit for the selloff. This suggests that a consolidation phase may be more likely for the foreseeable future. This may be a more typical scenario given that physical commodities, as I mentioned a few days ago, tend to have bowl-shaped, flat bottoms, rather than reaching a bottom and then immediately climbing higher again. Remember: spike tops, bowl bottoms.Corn, Soybeans Plunge as Rising Dollar Cuts Commodity Allure
