Can we get back to marketing, what's the news today?

[boarderbloke]

Markets taking a wack! What gives?

[cottonpicken]

Reading charts now.

Soyabeans downtrend still intact,still sticking to my
16,if it doesn't hold we go to 15 quick.

Corn very critical area right here today and looks like
a trip to 7.00.

Wheat i'm super bullish everything looks great as long
as there isn't an across the board sell off.

Not to generally worried short term correction.

[boarderbloke]

Anyone read this, about China?

http://www.examiner.com/article/dollar-no-longer-primary-oil-currency-as-china-begins-to-sell-oil-using-yuan

[furrowtickler]

Wow, nary a peep by MSM in North America. This could throw some gas on the fire.

[errolanderson]

Welcome to post-QE3 . . . .

Today's meltdown is a result funds
having little confidence in Big Ben's
plan of printing money till the
chicken's come home.

In their effort to please the big banks,
the U.S. Fed may have just ignited a
worsened global recession/depression.

To me, there is little hope that QE3
will have any benefit to the American
economy and it will just dig a deeper
financial hole for the world.

[ajl]

Buy the rumour, sell the fact. Markets
went higher in anticipation of QE3 and
now are going down that we have it.
Fundamentally this market (all
commodities and stocks) wants to head
lower as there are now millions of new
poor people in the world with global
economic collapse that can't afford to
eat any longer while central bank money
printing props it up.

[boarderbloke]

Errol,
Why isn't anything with intrinsic value increasing (ie. grains, land, equipment, houses, cars etc) I always though that QE3 would devalue currency, and lower it's purchasing power!

I believe Obama forced Benny to move forward with QE3 because he thinks the stimulis will improve he's chances for re-election. The polls we're seeing are all B.S., many have a 10 or even 13 Dem sampling. Obama's in trouble for an incumbent president.

[errolanderson]

boaderbloke . . . know this will stir the pot but . . . the risk to the market ahead (IMO) is 'deflation'. Bernanke is trying his damndest to keep the inflation candle burning.

To me, farmland prices are already too high, Cdn housing is too high, grains?? they could shift dramatically within a few months depending on weather.

To me, QE3 keeps the candle burning a little longer, but offers no wealth and no solution to the chronic overextended credit problems that must be written off over time. Credit deleveraging has already begun, but has a long ways to go . . . maybe another 3 to 5 years.

Realize what I'm saying is up for a lot of debate. These markets will eventually have to feel a reality of deflation and deleveraging to get the economic balance back in-line. There is no way around this. What the Fed is doing is delaying the inevitable so that the economy can't regenerate itself properly.

The old guard or status-quo is fighting to stay in-place . . . but must ultimately change to allow new financial attitudes to evolve and prosper.

Know this sounds harsh, but central bank policies are a huge distraction to markets and their workings. Should the U.S. even have a Federal Reserve??

Errol

[malleefarmer]

errol cotton whoever when does a
correction become a trend? One limit down
day surely isnt a trend? So find out in
what a few weeks time?

[Hopperbin]

Lower American Dollar means higher commodity prices. If oil gets traded in Chinese currency instead of American dollars then that I would think push the American dollar down which it is our dollar up which it is but not as much as the american economy will also pull our economy down keeping us somewhat in check with the americans so our grains are going to rocket in that case and Cotton's one million dollar farm becomes a 50 something like that million. With a lower American dollar then the Chinese can build our pipeline pay off our gov't buy our oil for cheaper take all the natural gas they want move 5 million chinese relative to Sask and Alberta We can buy a house for 7 million yuan or 1 million canadian dollars. Mind boggling.

[cottonpicken]

Trends and corrections and that stuff,has a wide
range of opinions based on different theories.

Lots of people think its a bunch of bs,but the goal is
to use technical analysts to make your batting
average better than even,not hit a homer every time.

Checking will probably kick me in the nuts on this
one,but does anyone ever remember the world having
so many balls up in the air at one time?

[errolanderson]

malleefarmer - Soybeans and corn had big
technical damage yesterday. U.S. crop
ratings also edge up and there is talk
that U.S. may increase their planted
acres in October (go figure). Also,
Brazil sees more rain ahead. Bulls are
running out-of-gas.

Yesterday's implosion to me was all
about selling the rumor. QE3 was
positioned. And the market is now saying
. . . now what? There is no more
anticipation of another major market
carrot . . . (unless Bernanke produces a
magic rabbit).

Dec corn major support is now way down
at $6.80/bu, which is great news for the
livestock industry. Personally, quite
bullish cattle heading into 2013, but
the grain rally is 'done' unless these
markets get a jolt of fresh bullish
news.

Errol

[boarderbloke]

Did we just start a new leg up yesterday? or is that just "Hope!"

[errolanderson]

boarderbloke . . . strong bargain-
hunting type buying is created this
rebound today. Also, Bank of Japan
stimulus news is adding a positive tone.

But technical damage is done. And to
repair that, fresh bullish news is
needed, beyond bargain hunting (IMO)

Rain forecasts in Brazil is maintaining
enormous production forecasts in South
America.

With the corn price drop, wheat (IMO) is
ripe for a possible setback. Wheat has
been replacing corn. Now global corn
values are in-decline. Grains are now
trying to find their new trading range.

Major soybean volatility is huge
(possibly $1/bu wide right now). $15.90
to $16.90/bu range. Canola futures wide
ranging as well.

an opinion for what's it's worth . . . .