Grains are relentless due to the Ukraine's situation and strong export report this morning from USDA. People are concerned if Ukraine could not maintain its corn and wheat export that would put the market in short supplies. US soybean export booking and shipment are stronger than last year. Even South American's harvesting season could not put a cap on US sales. Some people predict that US may have to import soybeans in order to keep up with its own market later this year. It's into the fifth week gains. RSI and MACD are in strong over bought conditions both weekly and daily. Of cause it doesn't mean it will not go up further. Tonight soybean crossed that big shooting star of 1446 rejection. Corn and wheat are going higher also. I will have to manage my Call sale positions and leg up further. I am glad I sold a soybean put instead of fighting the bulls today. The big guys may sell some of their positions to be ready for Monday's USDA World Supply and Demand Estimates release.
Equities had modest gains today. ES reached a new high of 1881 and closed at 1878 which still is a new high. I am glad I exited my 1885 yesterday for a small gain. I didn't enter any trade in ES but closed my 1700 and 1745 for 5C each and release some margin. Tomorrow's job report should cause some volatility.
Euro had a big jump today after ECB held its rate unchanged. I added one to my 1395 at 1X and one at 1340. My first try of Euro hasn't worked so far. It's getting into a new balance area. This is a slow mover but has weekly contract which I like.
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