Morning Call

I'm loafing a little before I have to scoop the global warming out of the bunks.

Grains are much lower overnight. I haven't really heard why yet. Beans down 14 corn down 4 wheat down 5 as of this posting.

A few observations with the grains is that we are very near resistance especially the corn. It almost looks like a triple top at the ch 425 area. It's something to watch if we go through it or get weak.

Beans all ready have a 1-2-3 top going even though it has been going up the past couple of weeks. If I were a wave trader, I'd be looking at finding my shorts.

My thinking on the wheat is that it is trying to bust out an uptrend here. MACD is trending up, RSI is trending up, the trend looks like it's up.