Tuesday, January 29, 2008

Commodity Outlook - 1/29/2008

We have been looking to put a short position into place on the Euro, however, with the FOMC announcement tomorrow it would probably be best to wait and see the results of their meeting.

This could Dictate the trend of the Euro over the next 5-7 trading days.

Nice reversal lower today on Sugar. We remain short the March contract and anticipate lower prices to continue from here.

Cotton seems to be marking time before it begins another leg down.
We remain short The March contract on Cotton and have locked in 50% of our gain.

Cattle are starting to wake up from their slumber and a move above 95.200 would be very bullish.
We remain long April Live Cattle.

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