Realy needs to find a double bottom here or it could get nasty.
While the COT reports aren't showing majorly short funds, domestic basis has really fallen out of bed, which will hopefully mean any falls on CBOT are more moderated than the last couple of months.
It was about this time last year the Nth Hem crops were looking shaky and Vladimir started getting hot under the collar. A big rally followed. Not sure what's going to save us this time, with world stocks into Australia's key destinations in ample supplies and the dollar already off heavily.
I guess the old saying applies: we'll need to see farmers somewhere else in the world have a shocker this year.
http://finviz.com/futures_charts.ashx?t=ZW&p=d1
