The commodity space got additional support as Goldman Sachs Analyst J. Hatzius remembered the investment community that with the current weak economic data, another round of Q-Easing is expected to start in November 2010. Some traders got the message wrong, expecting already an announcement for Q-Easing by the FED at the next FOMC Meeting on the 21st of September 2001. This sparked a wave of selling in the USD crosses and helped Gold to a fresh all-time high. While Gold is looking firmly bullish at the current levels, soft commodities are far away from historical highs, and I believe that we are at the beginning of a very strong bull market in soft commodities. The 3 white bar charts that moved Corn out of the downtrend are showing a candlestick pattern, called 3 white soldiers, suggesting that this trend is likely to continue.
An interesting interview on soft-commodities can be viewed on CNBC.com
http://www.cnbc.com/id/15840232?video=1591248479&play=1
