STOCKS: A slightly weak bias today mostly off classic profit taking
BONDS: We think this week’s lows have become a very critical pivot zone
CURRENCIES: Dollar and Yen are once again leadership currencies
COPPER: The bear camp has the edge especially in face of rising stocks
METALS: A minor negative bias remains in place for the precious metals
CATTLE: Slow demand from consumer continues to force beef lower; more down
HOGS: Reversal for Feb hogs to spark short-covering bounce; Feb to 59?
BEANS: Soybeans waiting for key demand data today. Weather still a mixed bag.
CORN: Weather a mixed bag. Exports and farmer selling the main factors now.
WHEAT: Wheat can start to gain on corn if this week’s sales are not too weak.
ENERGY: The bears have the edge as demand destruction continues
COTTON: New crop may grind higher but overbought condition for March; chop
COFFEE: Overbought and due for some consolidation but trend to remain up
SUGAR: Speculative long liquidation and weak outside markets; 12.19 March
COCOA: Outside market action to inspire short lived profit taking
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