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Markets struggle to find fundamental news to trade – June 1, 2012 - INTL FCStone Blog
International Assets Holding Corporation > INTL FCStone Blog > Posts > Markets struggle to find fundamental news to trade – June 1, 2012
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Markets struggle to find fundamental news to trade – June 1, 20126/1/2012 8:20 AM

WHEAT: LOWER
It has been an ugly week for the bulls and today will offer little to no relief. With markets down 14 cents in yesterday’s session, they are again trending lower. The markets, not just wheat, are struggling to find any kind of fundamental news to trade. With little out there besides regurgitating weather issues and lack of export business (net sales in wheat reduced 6,400 MT), the trade is forced to look elsewhere for indicators. This has the outside markets rearing their head back into play, and as crude continues to fall apart, the outlook for the complex is dingy. Crude is on tilt this morning currently trading down over $3.60, and the USD is better. If traders look to these correlated markets things could get foul throughout the day and when the pit opens.

Kyle Smith, Mike O'Dea, Ben Parks, Collin Hulse, Ingrid Gronlund