Orange Juice Futures-- Orange juice futures for the July contract are still trading above their 20 and 100 day moving average and have been by far the strongest soft commodity as the other soft markets continue to the downside but OJ is right near an 8 week high settling last Friday at 142 going out this week around 148 looking to break the 150 level with prices in an 8 week consolidation and if those levels are broken you will see a bullish trend develop i

Cotton Futures-- Cotton futures in New York continue their bearish momentum down another 55 points in the December contract which is considered the new crop which will be harvested this fall trading at 83.10 still trading below its 20 and 100 day moving average hitting a 3 month low continuing its bearish trend.

Grain Futures---  The grain market saw extreme volatility this week especially in the July soybeans which were up over $.50 yesterday hitting a high of 15.46 then reversing and settling unchanged settling today at 14.76 a bushel down 23 cents and has sold off 75 cents in 2 days and that tells me that there’s a possibility that this could be short term high.

Grain Futures--- The grain market rallied sharply this afternoon despite new highs in the U.S dollar continuing its bullish momentum in the July soybeans closing right on session highs once again up for the 5th consecutive trading session to close at 14.94 hitting 8 month highs all due the fact of extremely tight supplies and as I wrote in yesterday’s blog I have talked to many farmers and what they are telling me is that there’s very little ol