Strong Dollar,Iran Saying they would like to produce 50ok more barrels oil per day by end of year and tropical depression 9 turning into an afterthought and not a hurricane all weigh on prices.This fundamental cause for weakness has pushed prices below support levels and in turn caused some longs to be squeezed. Cl – 1,3 % and brent -1.8% Reminder that tomorrow is the last day for October brent and september Rbob and Heating Oil. Just hitting wires Iraq says it will Support Oil Freeze. Small bounce in prices
Grain update tomorrow is first notice day for September contracts,Corn has traded down to 7 year lows.Trading 307 now have not had front month corn contract trade below $3 in 10 years.