Market Recap 05.01.10
The markets kicked off the year in grand style, crude was up and the USD was down and traders just went hog wild going after wheat, fund balancing or not, wheat was flavour of the month (well, day) as it closed up 16. Beans and corn also closed up. Morocco is in for EU and US wheat, Israel is in for some wheat and most of the rest of the news is just from outside markets. The markets enjoy tradition - they like to have a slack Christmas, they like to have the investment driven spike from the rebalancing, and they like hurting anyone who looks to them for actual real-life price direction. What can you look for this month? More of the same as the investors pump money into the markets, just don't be there when the laughter stops...
Date of Publication: 5 Jan 10 8:59am ACST
Source: ABB Grain
