Following yesterday’s massive flushout the market is looking higher this morning as the US dollar again weakens versus the Euro and crude values are stabilize above $70.00.

The overall feel is that agricultural commodities are far undervalued as compared with outside commodities and thus are a great buy at current levels. Take the overnight for example if you doube me. We flushed out plenty of weak length over the previous week leaving only established longs that will not leave.

This entry was posted on Wednesday, July 1st, 2009 at 9:22 am and is filed under Energies. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.