Headlines – 2009.02.05

STOCKS: The bears seem to have a slight edge as longs stand aside late today
BONDS: The bulls can regain control because of burgeoning supply fears
CURRENCIES: A major decision directly ahead for the Japanese Yen
COPPER: Sell rallies in copper as slowing evidence continues to flow
METALS: Take your pick flight to quality buying or inflation buying
CATTLE: Beef prices continue to weaken and bulls may not see higher cash
HOGS: Another leg down could be it for April hog bottom near 59.10
BEANS: Fundamentals & technicals somewhat mixed. Resolve this by buying oil.
CORN: Slow demand persists; weak ethanol, poor livestock profitability
WHEAT: Yesterday’s liquidation sets stage for a brief short covering rally.
ENERGY: It could be hard to discount demand destruction views directly ahead
COTTON: Will need confidence in world economy to buy; sell calls
COFFEE: In position to remain in uptrend but may need some help from outside
SUGAR: Without help, sugar looks vulnerable to more long liquidation selling
COCOA: More aggressive profit taking may be inspired by today’s economic news