I tried a couple of trades today-selling April Hogs, buying KC Wheat. Neither trade went anywhere. The day before a long weekend is often quiet, and it was today (at least in what I traded in). Bonds sold off as today’s numbers weren’t as bad as they could have been, Treasury extended FDIC protection, and the deficits keep mounting. A weaker Dollar supported commodity prices. Gold found support at $800 yesterday, and it rebounded back into the triangle today. Trend line resistance is around $850. Beans extended their rally over concerns about South American weather, although March couldn’t clear Thursday’s high. Corn came up with beans, but it’s hardf to get too excited about corn prices when crude oil and the boondoggle ethanol markets continue to flounder. Have a good weekend.
