Corn looks like it wants to be done with this correction, beans is insisting they are done but wheat still hasn't got down to $7 and still looks like it wants to go there.
Talk of a "Greek Deal" seeped into the marketplace around 7AM EDT. That triggered wondrous waves of optimism, sending both the worlds bourses and crude oil skyward. The €, the £ and the $A followed suit against the $US. Gold was disappointed that there might not be a disaster, falling slightly ($15).
The US has more than a week to further disappoint gold buyers by putting together a sane financing package. Of course, the big banks think that sane means lots more subsidies to them, either direct or indirect, but the foolhardiness of world governance in bailing out without breaking up the big banks will take another few years to become manifest. In the meantime, it's politics as usual with stocks hating uncertainty and rallying when some disappears.
Incidentally, this week was the average end to a bear run on the stock market.
Talk of a "Greek Deal" seeped into the marketplace around 7AM EDT. That triggered wondrous waves of optimism, sending both the worlds bourses and crude oil skyward. The €, the £ and the $A followed suit against the $US. Gold was disappointed that there might not be a disaster, falling slightly ($15).
The US has more than a week to further disappoint gold buyers by putting together a sane financing package. Of course, the big banks think that sane means lots more subsidies to them, either direct or indirect, but the foolhardiness of world governance in bailing out without breaking up the big banks will take another few years to become manifest. In the meantime, it's politics as usual with stocks hating uncertainty and rallying when some disappears.
Incidentally, this week was the average end to a bear run on the stock market.
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