Following the higher than expected consumer confidence report this morning grains have chopped on either side of unchanged with the positive dow helping sentiment.

Weather looks wetter today than yesterday offering upsie potential but I still feel this trade needs a breather before continuing to the upside. Bulls should sit on the sideline waiting or a pullback to enter. Entrenched bulls need to be leery of a profittaking sellof heading into the end of the month.

This entry was posted on Tuesday, May 26th, 2009 at 11:20 am and is filed under Grains. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.