Wheat Price Volatility (CBOT:W, Subindex), Golden Cross, Employment Reports

Distressed Volatility was out of commission for the past few days as it was relocating blog offices on very short notice. To re-up on financial news, here's a link fest for 8/5/2010 - 8/6/2010 and charts of the Wheat Future (CBOT:W) and DJ UBS Wheat Subindex, which had huge upside moves on Russia's export ban. I think you're about to witness a golden-cross in the DJ Wheat Subindex chart (50 day moving average crossing the 200 day moving average to the upside). It already occurred in the rolling wheat future. Wheat tumbled today on overbought conditions, look at the relative strength index. Higher bread and cereal prices coming?

Wheat News Corner
Grain Export Ban Ordered by Putin - link (The Moscow Times)
Wheat Falls Most Since Mid-2009 on Bets Farmers to Boost Acres After Rally - link (Bloomberg)
Wheat's Advance Revives Food Crisis Concern - link (Bloomberg)
UPDATE 1-Large specs trim net short in wheat for 7th week - link (Reuters)
Wheat Rally May Top $9 as Russia Export Ban Boosts U.S. Sales - link (8/5, Bloomberg)
Grains Outlook for August 6, 2010 (#Corn, #Wheat) - link (Inside Futures)
Russia's wheat woes could hit U.S. grocery shelves - link (LA Times)

Premium Employment Reports
Jobs Decline by 131,000 in July, Unemployment Rate Steady at 9.5% - link (Atlantic)
Broader U-6 Jobless Rate at 16.5%: May Be Headed Higher - link (WSJ)
Employment Report In-Depth - link (Zacks Investment Research)
U.S. Companies Add 71,000 Jobs; Unemployment at 9.5% - link (Bloomberg)
Real U-3 Unemployment Rate When Adjusted For Labor Force Participation: Around 14% - link (Zero Hedge)
Unemployment Duration Far Surpasses Levels Seen in Early 1980s - link (Paper Economy/Seeking Alpha)

Other News
Pimco's Gross Says Fed Won't Raise Rates for 2 to 3 Years - link (Bloomberg)
Credit-card debt that dropped in June to the lowest level since October 2005 - link (Bloomberg)
U.S. Credit Risk Index (NAIG CDX) Rises Following Weaker-Than-Expected Payrolls Data - link (Bloomberg)
Blockbuster Is Said Likely to Get One-Month Reprieve on Debt - link (Bloomberg)
For-Profit Colleges Tumble After American Public Scraps Earnings Forecast - link (Bloomberg)
Cash-Rich Money Managers to Drive Asian Bonds Higher, Aberdeen Asset Says - link (Bloomberg)

CBOT:Wheat (find this chart at FutureSource.com)

$DJAWH, Dow Jones-UBS Wheat Subindex (courtesy of Stockcharts.com)

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