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Friday's selloff=Mondays buyin
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Ranchhand
Posted 8/8/2010 00:35 (#1305636)
Subject: Friday's selloff=Mondays buyin


West KY, Miss River County
Looking only at December Chi, Open interest appeared to stay the same, even though price was down the limit, and volume was up 56,052 or 22%

Without going over all open interest for all wheat, it appears that sales were met with new purchases. Looks like longs that got out before the weekend were replaced by new purchasers, or those that exited early, buying it back on the close. There really wasn't much late trades though, only 503 after 12:20

Regardless, looks like continued demand for wheat on the open Monday.


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