Soybeans touched the ascending median line objective on March 22. The market stopped at the median line and posted two consecutive lower closes as it pulled back to the 20-day SMA. This is a possible bullish TR pattern forming inside the prior market swing. A trade above $9.76 1/2 would confirm the pattern and trigger… read more
Monthly Archives: March 2010
GRAIN Comments
CHICAGO (Dow Jones) — Soybean futures on the Chicago Board of Trade are expected to start Thursday’s day session higher in a minor correction from Wednesday’s declines. CBOT soybeans are seen opening 2 cents to 4 cents higher. Overnight, CBOT May soybeans were 4 1/2 cents higher at $9.64 1/2 a bushel. Outside market influences… read more
Initial Jobless Claims [3/25/2010]
According to Reuters: Initial claims for state unemployment benefits fell 14,000 to a seasonally adjusted 442,000 in the week ended March 20, the Labor Department said. The report included annual revisions to the weekly unemployment claims seasonal factors going back to 2005. * Using the old seasonal factors, claims would have dropped only to 453,000,… read more
EIA Energy Stocks [3/24/2010]
Million (Barrels) 03/19/10 03/12/10 Change 03/19/09 Crude Oil (Exc SPR) 351.3 344.0 7.3 361.3 Crude at Cushing 30.5 29.9 0.6 30.6 Gasoline 224.6 227.3 -2.7 216.2 Reformulated 1.0 0.8 0.2 1.1 Blending Components 142.8 144.6 1.8 -128.1 Jet Fuel 43.2 43.2 UNCH 42.1 Total Distillate Fuel 145.7 148.1 -2.4 144.7 Heating Oil 40.7 40.4 0.3… read more
Japan Looks Hard at Trimming Huge Debt .
By YUKA HAYASHI TOKYO—Will global markets start to treat Japan as the next Greece? Bond traders up to now have been relatively sanguine about Tokyo’s massive pile of government debt. But that attitude could be tested over the next three months, as Japan’s new center-left government nears a self-imposed June deadline for crafting a plan… read more
Livestock News
Chicago Mercantile Exchange live cattle futures were lower early on Wednesday in electronic trading amid carry-over technical selling and pressure following weakness in other commodities. Hog futures were lower with the weak tone to cash markets weighing on April and premium to cash pressuring other months.… read more
OPENING GRAIN CALLS
Corn futures are expected to open 2 to 3 lower as of 7:15 a.m. CDT; soybeans 7 to 9 lower; wheat 2 to 4 lower… read more
Greece wants European solution to debt crisis- finmin
ATHENS, March 23 (Reuters) – Greece wants a European solution to its debt crisis and expects positive results from a European Union summit on March 25-26, Finance Minister George Papaconstantinou said on Tuesday. Germany and its EU partners are in disagreement over financial support for Greece, whose debt load is seen hitting 120.4 percent of… read more
Short Yen swing trade has reached the median line target objective.[chart]
The sell recommendation made in the March 24, issue of the Traders Market Views was triggered at 1.1019 in the overnight session. The market has contnued to trade lower under heavy pressure and has reached the descending median line target objective at 1.0879. This is the initial target objective and typically offers support after a… read more
Swing trading opportunity setting up for Swiss franc [chart]
June Swiss franc – The Swiss franc is beginning to exhibit a show of strength on speculation that the central bank will begin relaxing a year-old policy of selling the currency to curb its strength. The market has formed a bullish reaction swing with a retest of the 20-day SMA on Monday. This is a… read more