The Trend Trader helps to identify the current trend status of your favorite markets. Each contract in the table is represented by a directional tendency for both the Minor and Major trends.  Two up arrows identify a Bullish Trend - two down arrows a Bearish Trend - one of each a Neutral Trend. The Trend Trader not only helps us to stay on the right side of market direction, but it also helps us avoid those markets without a trend. You can even use the grid as a spread matrix too - buying strength and selling weakness. Before you place your next trade, be sure to consult the Trend Trader.

  The conflict between Argentina and its farm organizations, over the government's desire to implement a sliding scale export tariff on soybeans and its products, has been the soybean market's main focus during the last few months. The two sides are negotiating to prevent a second producer marketing slowdown if talks break down this week. However, today's May monthly update from the U.S. Department of Agriculture (USDA) will indicate domestic and world supply/demand for soybeans, as well as the first official supply/demand projections for the U.S. 2008/09 soybean crop. This should prompt some attention on the tight U.S. old-crop supplies and the substantial jump in 2008 output, based upon U.S. producers' intentions to expand plantings by 18% this year.

In light of recent developments in the markets I closely monitor, I am moving my target on Crude Oil to $135/bbl. My only reservation is that this number might be a little too conservative. And NO, this has absolutely nothing to do with Goldman Sachs issuing a target of $200/bbl. The following should depress you.

If consumers and investors are going to survive in the current economic environment, they must act to protect themselves against inflation.  Because we have not seen major inflationary pressures in almost a generation, many have forgotten or are unaware of the devastating pressures that can arise from an inflationary cycle.  I believe that President Gerald Ford explained the forces of inflation best in his speech entitled Whip Inflation Now as he said: “But I say to you with all sincerity that our inflation, our public enemy number one, will, unless whipped, destroy our country, our homes, our liberties, our property, and finally our national pride, as surely as any well-armed wartime enemy.”

As oil prices continue to drive higher, the greatest fear at this point is what the government might want to try doing about it. The latest scheme, or should I say scam, to try and bring relief to the poor energy consumer in an attempt to lower gas prices is a call by Senators and The Congress to stop filling the Strategic Petroleum Reserve (SPR). This is oil that is being put away for a specific reason - and that is to increase our countries energy security. It is not to be used as a political play toy for politicians that failed to understand and act on our countries energy future when prices were substantially lower. Not only are a host of Democrats endorsing this bad idea, but now even some Republicans have jumped on this bandwagon–not just any Republicans but the Republican Nominee for President Sen. John McCain.

A major uptrend line was broken in early January with follow through to the downside. There was heavy volume on this sell signal, which confirmed the validity of the indication. Since then, there has been recovery, but on relatively light volume. A downtrend line has been broken on the upside recently, but without much conviction. On the recovery, prices moved to just a little above the half way back natural resistance area. Technical indicators remain bearish.

USDA Supply Demand Report 5-9-08

A rally is underway in Gold. However, unlike rallies earlier this year, this one lacks the razzle dazzle one would expect to see with Crude Oil hitting $126 a barrel. Read Ira Epstein's take on why this occuring.

The huge rally in live cattle occurred on active volume and rising open interest. The fundamental and technical table is set for a major move upward.

Inflation a 'major' concern for ECB rate decision, 'unchanged'.