Headlines – 2009.02.02

STOCKS: More slowing evidence favors the bear camp directly ahead
BONDS: Minor short covering capacity despite extremely weak US numbers
CURRENCIES: More Dollar strength but Friday payroll reading is problematic
COPPER: Sell rallies as industrial demand destruction looks set to continue
METALS: Initial weakness but flight to quality fears remain in place
CATTLE: Supply outlook tightening ahead but beef price still probing for low
HOGS: Short-term demand news still weak but declining supply ahead; firm
BEANS: Improved South American weather and absence of China somewhat negative.
CORN: February may be the month when farmers increase selling in corn.
WHEAT: Wheat remains under pressure from the dollar and ample world supplies.
ENERGY: Under pressure as global economic conditions leave fuel demand weak
COTTON: Short-term economic news remains weak; more down March cotton
COFFEE: Positive COT but outside market forces still weak; buy corrections
SUGAR: Watch out for “sell the fact” long liquidation selling if India imports
COCOA: Overbought with outside market action inspiring profit taking