Well I have certainly seen this before- equities crash and money piles into certain commodities. Metals and grains all up big today. However- oil and gasoline are down. spot /RB now at $3.00 a gallon. Ethanol plants slashed their basis today- one I saw in OH down 30 cents from yesterday. Are we looking at a case of "what goes up...." ?
1935 ET
Prices holding steady at 714. Nice volume as you might expect.
** my take ** - Prices are just too high right here. Everything seemed pretty comfortable in that 680-690 range. IMO this is just idle money looking for a place to go. It will leave as soon a someone decides the DOW is a better place to be.
2100 ET
Sitting at about 715 right now. Still some good volume for this time of night.
