WEDNESDAY 5/27/09 - A.M.

Index fund buying a major support driver in all three major exchanges. US wheat values are also supported by rising Black Sea and EU wheat offers.

The outside market pendulum swings and adds thrust to the pricing equation. Volatility meter stays in the high range making most predictions short lived and revisions necessarily frequent.

Over the last 30 days, local cash market posted solid gains. Australia's apparent inability to 'completely service' some regular Pacific Rim accounts has proved beneficial to PWN off-shore prospects. Indonesia and the Philippines are the prime soft white user examples.

WEDNESDAY 5/27/09 - P.M.
 

Index funds 'investing' in all three exchanges.  Potential North Dakota wheat acreage decreases fueling Minneapolis's ascent. Technical buyouts, plus, favorable crude and dollar index movements also adding heat to the market.

A percentage of these 'gains are deemed overdone' when confronted with fundamental global facts. Not the first time market exuberance trumped S & D realities. A 'transitional market' offers heighten rewards and risks.