The U.S. dollar index is a basket six of major world currencies weighted against the greenback. See on the daily bar chart the USDX is starting to trend down. That means most of the other six major world currencies are starting to appreciate against the dollar. The USDX is a major “outside market” that many traders of other markets follow very closely, as the USDX has a daily price influence over so many other markets. It’s a big deal in the marketplace that the USDX is trending lower. Such hints that market bottoms could be in place in the grains. It hints that precious metals prices will continue to rally and that U.S. Treasury yields will decline further. Stay tuned!—Jim Wyckoff