CRB Index Breaks

[errolanderson]

Group . . . just to alert you that the
CRB Index is starting to break lower.
This index is the Dow Jones of commodity
markets.

Several commodities now taking heavy
hits including cotton, copper, crude
oil, gasoline, oats, etc.

Post Memorial Day market action is
typically been unstable. Rumour of joint
central bank monetary easing . . . but
kinda a decision that is between a rock
'n a hard spot.

Errol

[mcfarms]

You know in olden days we would have to kill you because you bring so much bad news.

[silverback]

So today's action is not to be taken seriously? Brief spike?

[crusher]

errol,

Are you also "agtrader" at agtalk? Everytime you preach the doom and gloom we get a nice pop in the grains. Keep up the good work!! Kinda like me selling a load to trigger the market higher. Everybody's got to do their part.

[BreadWinner]

Better not quit your day job Errol, oops I forgot that is your day job.

[Digger]

Apu Naasapeemapetilon & Don Cherry

[errolanderson]

silverback . . . Canola and wheat are
still well supported on production
uncertainty, but IMO the spring highs
are in on these markets. Canola will
likely hang around these levels
especially with our dollar breaking
down. It's the day when soybeans break
hard that will take canola down a notch.
See Nov support at $540/MT. Don't have a
clue when that may be tested.

The CRB dropping just means that any
commodity rallying is ultimately
swimming upstream to the overall tone of
commodity markets.

Guys . . . just thought this was a
worthy factor to be aware of.

Errol

[freewheat]

My wife is always of interest to me.

I always thought coffee with Preston
Manning would be awesome.

[wd9]

Errol, you mean it isn't whether or not
SF3 gets all his and a few of his neighbors crops seeded that determine the
price of canola????? What????

Sell Selll Sellllllll. Oh wait, ADM canola
is up $11 a tonne. Wait. No sell. No wait.

[cottonpicken]

Don't worry Errol,watching capital flow trends is not
lost on all,i hate the action in the us 10 year treasury,i
hate the 500 level in the crb,i hate golds level and i
hate the usdx.

Trillions of dollars sloshing around in the different
asset classes does affect us.

And god forbid the crb gets brought up on a
commodity marketing site,lol.

[Hopperbin]

Errol I feel like your bringing a red flag to a bull fight. There is no old crop left. Planting is late. I just sold soft wheat andrew for 7.25 per bushel cleaned for planting and I think I am being very conservative in my price. Spot market here is 6.8 per bushel into ethanol plant.

[SASKFARMER3]

Kevin O'Leary He would be a fun one on one
and Brett Wilson would also be fun for a
beer and a fishing afternoon.

[errolanderson]

Hopperbin . . . I've been to this bull fight many times in my career.

Call it a red flag or call it a yellow cautionary flag, these markets will adjust to the new economic reality and it will happen at the most unexpected time.

The break in the CRB is a huge warning IMO to commodity markets. Also, did you take a look at the Chicago oat market over the past two days. If oats are the grain market 'canary in the coal mine', this bird ain't flying out anytime soon. I'm personally bullish the cash oat market, but this sell-off is disturbing.

There are toxic economic fumes floating around commodity markets right now. And if you believe canola is the 'chosen one' and outside the realm of the global financial wreck, maybe your right, but maybe you are wrong.

Errol

[rockpile]

Me and Joe Ferguson, lol.

[mcfarms]

Everyone is interesting if you take time to see what makes them so.