STOCKS: The bias looks to remain up off data and Presidential cheerleading
BONDS: Data and Obama should apply some light pressure to Treasuries today
CURRENCIES: Relative strength ranking today is Pound, Canadian, Yen, $, Euro
COPPER: After a minor correction today we suspect that the up trend will resum
METALS: Choppy action ahead as gold and silver are facing a transition
CATTLE: Steady turn up in beef prices may support but packer margins weak
HOGS: Move up in pork prices over past week positive sign for uptrending cash
BEANS: Soybeans continue to lead the way. Buy on dips.
CORN: Corn still weak, but it could be pulled higher by soybeans and wheat.
WHEAT: Will wheat bounce even more this week? It all depends on the dollar.
ENERGY: With fundamentals clearly negative, price gains will rely on economic hope
COTTON: Still seems vulnerable to a more significant correction down
COFFEE: Consolidating and still seeing active selling from large producers
SUGAR: India import news enough to support minor uptrend with 14.59 target
COCOA: Bearish European cocoa grind will test the bull camp’s resolve

STOCKS: Expect at least another downward probe in prices early this week
BONDS: For the time being fear of severe slowing controls market sentiment
CURRENCIES: For the near term the Dollar looks to dominate
COPPER: Expect serious deflating of copper prices directly ahead
METALS: The fear of too much slowing is set to replace flight to quality
CATTLE: Weakness in beef and a surge in the US dollar; choppy to lower ahead
HOGS: USDA report very neutral; down this week and discount to support; chop
BEANS: If the bailout passes today, it may bring a bounce. Sell that bounce.
CORN: Passage of a bailout considered likely, but a relief rally is a sale.
WHEAT: Wheat following rest of the world lower. Look for bounce from new lows.
ENERGY: Weak global economy & demand, strong $ leave the bears in control
COTTON: More weakness ahead as demand slow to respond; 57.55 next Obj
COFFEE: Weakness as aggressive selling trend persists; light demand concerns
SUGAR: Holding well in face of strong dollar/weak energy; index funds?
COCOA: Gap lower starts next leg down on $ strength & weakening global demand

STOCKS: Be long calls but hedge that play with near to expiration puts!
BONDS: Waning confidence in Treasuries suggests fading of rallies
CURRENCIES: The Dollar seems to he able to retain favor despite bad politics
COPPER: A major pivot point ahead go with a breakout of $3.20 and $3.05
METALS: The bears seem to have the edge regardless of political actions
CATTLE: Another break in beef and jump in weights; weak demand, more down
HOGS: USDA report this afternoon; down next week but discount? stand aside
BEANS: Will the bailout pass? Is it inflationary? More questions than answers.
CORN: Resistance to the bailout hardening? Nervousness could cause mass exit.
WHEAT: Turmoil in financial markets raises the downside potential in wheat.
ENERGY: We would continue to sell rallies in crude oil and gasoline
COTTON: More weakness ahead as demand factors looking weak; 57.55 next Obj
COFFEE: Follow late in the day technical signals for direction next week
SUGAR: Rollover of economy could drag market down without progress on plan
COCOA: Tech correction near complete, $ strength, harvest supply/weak demand to pressure

STOCKS: Be long calls but hedge that play with near to expiration puts!
BONDS: Rally off the data this morning should run out of steam quickly
CURRENCIES: Beware of historic two sided action in all markets
COPPER: $3.12 copper prices are very high if a global recession surfaces
METALS: The metals markets are faced with an all or nothing decision ahead
CATTLE: Weakening demand structure, weakness in beef and steady cattle; down
HOGS: Uncertainty on supply and demand into next week; stand aside, chop/lower
BEANS: Inflation vs recession. Tight stocks vs weak demand. It’s a tug-of-war.
CORN: Resistance to the bailout has changed the market landscape to negative.
WHEAT: Recent buyers were sent scurrying yesterday. Test of 700 in Dec likely.
ENERGY: The outlook on the economy is everything $90 or $110 crude oil
COTTON: Probing for low enough price to spark improved demand; 57.55 next Obj
COFFEE: Probing for near-term low; consider bull call spreads; volatility
SUGAR: Liquidation continues with big drop in open interest; chop for now
COCOA: Tech strength may prove temporary if $ rallies & fundamentals stay weak

STOCKS: Look to sell bounces until bailout passage gains some momentum
BONDS: Classic fundamentals are supportive but bailout conflict is limiting
CURRENCIES: Expect a range trade as the market awaits a Congressional decision
COPPER: The path of least resistance is still pointing downward
METALS: The bulls seem to be able to spin all the headlines into their favor
CATTLE: Weakening demand concerns with futures holding premium; more down
HOGS: USDA report but slow demand and hefty supply point down into Friday
BEANS: Path of least resistance still up. Inflation is the underlying reason.
CORN: Outside markets somewhat less of a factor this morning. Higher for now.
WHEAT: We got our setback yesterday. It was minor. Next stop, 798?
ENERGY: Near term edge goes to the bull camp but the economy will limit
COTTON: Weakening demand structure; lack of bill progress, another leg down?
COFFEE: Oversold and probing for near-term low; inflation concerns ahead
SUGAR: Uneasy trade; lack of progress in bail-out package could spark selling
COCOA: Dollar may have less influence once new crop season starts in Oct

STOCKS: A SEA CHANGE IN FAVOR OF THE BULL CAMP EXPECT GAINS TO EXTEND
BONDS: LONG LIQUIDATION TO CONTINUE IN THE FACE OF A TEMPORARY OIL WINDFALL
CURRENCIES: ALL SYSTEMS GO FOR MORE US DOLLAR GAINS DIRECTLY AHEAD
COPPER: DOWNSIDE TARGETING IN DECEMBER COPPER IS NOW $3.10
METALS: LOOK FOR MORE SIGNIFICANT DOWNSIDE ACTION DIRECTLY AHEAD
CATTLE: SHOULD NOT TAKE MUCH IN THE WAY OF BULLISH NEWS TO SPARK BOUNCE
HOGS: REVERSAL TODAY COULD START THE BOTTOMING PROCESS; OVERSOLD FOR NOW
BEANS: STALEMATE OVER. COMMODITY LIQUIDATION AND WEATHER ARE TAKING US LOWER.
CORN: RAINS LAST WEEK STARTED THE BREAK. OUTSIDE MARKETS ARE EXTENDING IT.
WHEAT: SAME AS FRIDAY: DIRECTION IS LOWER, BUT WHEAT IS INCREASINGLY OVERSOLD.
ENERGY: BEARS HAVE THE EARLY UPPER HAND BUT BARGAIN HUNTING BUYERS MAY KEEP TRADE VOLATILE
COTTON: LACK OF TEXAS THREAT AND GRAIN ACTION POINT LOWER TODAY
COFFEE: SOME BACK AND FILL ACTION FROM OUTSIDE FORCES; BUY BREAKS
SUGAR: STILL UNDER INFLUENCE OF REVERSAL AND WEAK CRUDE SPARKS SELLING; WEAK
COCOA: BEARISH OUTSIDE MARKET ACTION & TECH CONDITION GIVE THE BEARS CAMP LEVERAGE