The holiday-shortened trading week is around the corner, the CBOT opened as call and was subsequently characterized by position evening/liquidation. The markets did a whole lot of nothing and stayed within their recent trading ranges. The most notable trade is that wheat continued to leak lower, breaking below what was otherwise looking like a bull flag on the charts. Fundamental news remains light, leaving traders with little interest to extend speculative bets ahead of the holidays. Trading volume was anemic and today’s price action likely means little for the future direction of CBOT commodities. Several reports have noted how guessing the amount of Chinese imports of U.S. farm goods has become the CBOT’s unofficial pa...
Accountability and a comprehensive approach to export programming
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