ECOM DAILY MARKET REPORT

ECOM DAILY MARKET REPORT

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Market was down early as we may have hit some sell stops overnight and got some good spec selling. However, after testing the 80 cent level, the market rebounded mid-day and closed strong. Equities and other commodities were mixed as the USD keeps moving higher. The Euro is in big trouble as the situation in Greece is getting much worse and not showing any signs of improving.

Demand has been good on this dip but don't expect a huge export sales report tomorrow. Most mills are trying to buy only what they need to make it until new crop. After hitting the 3 week low today, technically we are still range bound and cert stocks are still growing. New crop is getting off to a good start and the market will be anxious to see the USDA report next Tuesday for more guidance.

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