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Commodity Currents: Wild Wednesday.

10y Treasury yield spiked again closing on in 2.300 not seen since October sending the note cascading lower with a spike in volume now looking for 127-16 if 128-00 doesn't hold. The Dollar surged again closing over another resistance level 80.494 staying over this level can set the stage for a retest of 82.000 and a close over will really be worth watching what happens. The metals melted under more profit-taking with Gold falling through another support of 1652.00 looking more likely return to 1600 or 1562.50. Sliver also fell holding at 32.111 after briefly trading below that level but if prices can't stabilize could expect to see a return to 30.00. Crude slipped a little and the longer it stays under 106.97 the greater the chance more speculative selling will send it to 103.08 a likely target. Natural gas failed at 2.330 with buyers still intent on buying keeping prices off the worse levels. Soybeans remains in the teens despite buying drying up toward the close staying over 1350-0 and over 1339-0 showing few signs of reversing anytime soon. Corn drifted higher and Wheat was flat with Oats playing catch up challenging its 100day moving average at 312-3/4. Hogs struggled to stem losses to regain 95.572 and Cattle bulls attempt another close over 124.21 after 125.00 was rejected. Sugar was sweet to longs bouncing nicely over its first target 24.17 as well as taking out the small downtrend from the Jan high looking to trade over 24.78 while Cocoa failed at the 100day average another example of why its never a good idea to chase the market although bouncing off support 2,279 only to close under 2314 looking lower. Buyers regained the upper hand in Orange Juice as 185.16 held with bull's next objective to force a close over 188.74. Cotton fell through 88.00 resume its downtrend although with volume declining looks more like a bear trip then a new leg lower