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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (7115)	5/11/2008 7:20:30 PM
From: RockyBalboa	Read Replies (3) \| Respond to of 71454

Finally the market shows some backstop bids on the backwardation at 300 flat. With the illiquid May contract going away and deliveries taken, it is interesting to see what July brings. For now all spreads enjoy serious bids. That could still be a suckers bet but it will be harder to trade through. Players have given up on wheat; what remains is a deep drop to 725. I think that with having finished trading against $8 this could be the next logical step. The underlying fundies say there is plenty of wheat...in contrast to other ags. Oil... short term overbought as it is a small short bet on oil could be in order. Shouldnt run up more than $1 if it does the bet is off.