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03-22-2013 08:01 AM
Things are getting a little dicey on the exchange floor as we approach next Thursday's report.
It will be a big report as well as end of month, end of quarter so expect some fireworks.
Markets will shrug off Cyprus. It will be in the headlines for a few more weeks but in the grand scheme of things the EU will want to keep them around.
Beans and corn down 4 to 5 and wheat down 3.
Equities are up and gold is still holding on to $1605, down $9.
Rates are inching lower with the uncertainty over Cyprus and with what Ben Bernanke did not have to say. The pump is going to continue to run.
Trading community is getting thin as next week is spring break for a lot of us. That may have a volatile effect on things as well.
Beans need to break 12.47 to look bad...short term objective to the upside is 12.80. Both are within striking range.