Yesterday after the close I wrote that I was bearish, wanted to sell grains, and was not looking to buy breaks.
Today beans settled 34 cents lower, wheat settled 32 cents lower and corn settled 12 cents off its high, but 5 cents lower on the day.
Maintain shorts through Friday. Option expiration could give further sell pressure.
As for the crude, today’s settlement at 84.38 has given me a short position. I am looking to cover around 82. I have a buy stop protecting me above.
That is all.
Hope you sold the grains yesterday.
CER
