Grain Prices Continuing to See Selling Pressure

Continued weakness in the grain complex is helping to keep pressure on the Continuous Commodity Index or CCI. There looks to be a change of ownership occuring in this complex with hedge funds bailing out of a sizeable long position and commercial interests obtaining long side hedge coverage.

We have this selling occurring not only in the grains, but also in the metals and the energy sector and some of the softs. This is providing some headwinds to the precious metals complex even with the equity market bulls trying their best to jam prices higher and prevent a further technically related sell off from deepening.