Eoin Treacy's view

I have been waiting for some sign of a pause in platinum’s decline as the discount to gold has become progressively wider amid what has been an unrelenting decline over the last month. I opened a long positon today paying $861.60 for a January contract. 

A great deal of variation is evident in the performance of agricultural commodities where individual news items have the potential to move prices quite abruptly. Arabic coffee has lost downward momentum but remains in a medium-term downtrend. A short-term oversold condition is evident and today saw the first upward dynamic in more than two months. I opened a long position in the March contract paying 121.8¢ 

Generally speaking the grain and bean complex has been subject to selling pressure but oats is an exception. It is trading in backwardation out to May and today’s rally broke the almost two-year progression of lower rally highs. A countermanding downward dynamic would be required to question potential for additional upside. I opened a long position in the December contract paying 248.3¢. 

All prices include spread-bet dealing costs.