The grain market tonight is trading lower on the night session with soybeans for the May delivery down three cents at $13.22 a bushel while corn futures for the May delivery are down five cents at 6.56 a bushel in light trade in Chicago. Corn futures broke out above the 6.60 resistance level this afternoon, however were not able to hold the gains on the night session falling back down to the 6.56 basically mid range in the last couple of weeks in the corn market.

The precious metals opened up slightly lower this morning with gold selling off more than $15 dollars last night however, now only down $3 dollars currently trading around $1706 an ounce with silver coming off the highs of last night and at one point being up $.45  cents but currently down five cents at $34.47 an ounce while platinum futures are also lower by $21 dollars and trading at $1671 an ounce while Palladium futures are slightly lower at 708.70.

The U.S  dollar is trading lower tonight on the night session with the euro currency surging more than 70 points and the other foreign currencies are higher as well. The commodity sector is higher as crude oil is up by 80 cents and gold up over 4 dollars. The grain market opens at 6pm ct. The S&P is higher by 5 points trading at 1345.50.

The commodity markets are slightly higher today buoyed by a lower dollar against the foreign currencies. Energy futures are higher again with heating oil and unleaded gasoline hitting contract highs while awaiting the API report which comes out this morning. I think all the markets are going higher and one should position themselves for higher commodity prices and therefore higher prices at the store.