CBOT Closing Comments
The CBOT grains complex had another bad day at the office Friday closing lower across the board as evidence continues to emerge that commodities are not the "golden child" any more.
We got swept away in a wave of bullish hype which sometimes had little to do with market fundamentals, now we seem to be paying the price.
The dollar was up, crude was down, so too was gold & silver. It would have seemed strange to say it a year or two ago but now it seems almost normal, the grains complex had to move lower too.
September soybeans settled 53 3/4 cents lower at $12.11 1/2 and November
soybeans ended 55 cents lower at $12.19. September wheat dropped 40 1/4 cents to close at $8.24 1/4 per bushel and September corn ended down 28 cents to $5.29 3/4 per bushel.
Fundamentals. What are they?
We got swept away in a wave of bullish hype which sometimes had little to do with market fundamentals, now we seem to be paying the price.
The dollar was up, crude was down, so too was gold & silver. It would have seemed strange to say it a year or two ago but now it seems almost normal, the grains complex had to move lower too.
September soybeans settled 53 3/4 cents lower at $12.11 1/2 and November
soybeans ended 55 cents lower at $12.19. September wheat dropped 40 1/4 cents to close at $8.24 1/4 per bushel and September corn ended down 28 cents to $5.29 3/4 per bushel.
Fundamentals. What are they?