The market opened higher and had a couple of moments of buying and each time it has attracted selling even in the .60 c range of this morning. Such was yesterday’s pattern both showing the resilience of the 106-105 level and the continued resistance to higher prices in light trading. According to the COT report, the primary sellers were index funds and swap dealers, likely institutional entities. 8:00 has been bringing buyers, possibly managed money who have been building long positions. EFP activity was again part of the forward volume.

Currencies are again mixed and rendering a higher $Index. USDMXN is 23.2175 +0.0265 (+0.11%)m USDCOP is 3,811.00 +5.69 (+0.15%) and USDBRL is 5.7150 +.0225 (+.40%), on the CME against yesterday’s spot close.

Bond futures are higher and steady and equities are lower. Metals are lower, crude higher, grains mostly higher and sugar is higher. Cotton and cocoa are lower.