(Dow Jones)–Chicago Mercantile Exchange lean hog futures Wednesday are called higher on continued strength in the cash markets and spill-over support from strong gains in overnight live cattle trading. Chicago Mercantile Exchange pit traded live cattle and feeder cattle futures prices Wednesday were expected to open higher after a surprising cash-market trade late Tuesday that… read more
Monthly Archives: April 2010
Open Grain Calls
CORN – Down 1 to 2 cents per bushel. Higher dollar, lower crude oil and plentiful supply of feedgrains weigh on corn futures. Some choppy price action amid unsettled U.S. corn seeding weather. SOYBEANS – Down 2 to 3 cents per bushel. Firm dollar, lower crude oil and harvesting of record large South American soybean… read more
Canadian dollar trades at parity with the U.S Dollar! [chart]
The Canada dollar has traded equal to the U.S. dollar for the first time since July 2008. The Canadian dollar, also nicknamed the loonie for the aquatic bird on the C$1 coin, is being supported by the rising price of crude oil and the prospect of higher interest rates. The last time the Canadian dollar traded at par with the U.S… read more
Livestock News
CHICAGO, April 6 (Reuters) – Chicago Mercantile Exchange ive cattle futures were lower early on Tuesday in electronic rading amid profit taking and pressure from lower financials hile firm cash markets and technicals provide support. Lean hogs were higher with April setting a new 19-month igh for a lead contract overnight amid firm cash markets.… read more
Opening Grain Calls
WHEAT – Down 1/2 to 1 cent per bushel. Strong condition ratings for the U.S. winter wheat crop as released by the USDA late Monday and a firm dollar weighs on wheat futures. KCBT HRW winter wheat firm as Iraq buys wheat including 50,000 tonnes of U.S. HRW wheat. CORN – Up 1/2 to 1… read more
Crude oil reaches new 18-month high. Will it continue? [chart]
Crude oil traded out of the 5-wave continuation pattern on March 29. The new bullish upward swing was confirmed after the market posted a low pivot on March 26, followed by a close above the up-sloping median line on March 31. This pattern can be a very important marker in a trending market because it usually marks the… read more
Department of Energy reporting error
According to the Wall Street Journal, the U.S. Energy Department discovered a problem in the way that it collects data and will soon be reducing the amount of U.S. natural gas production that it has been reporting. June natural gas is trading higher.… read more
ISM Non-Manufacturing Index [4/5/2010]
U.S. ISM non-manufacturing index 55.4 in March FORECAST: Reuters’ survey of economists expected a median reading of 54.0 in March versus a February reading of 53.0.… read more
Livestock News
CHICAGO (Dow Jones)–Chicago Mercantile Exchange hogs’ could open mostly firm Monday as traders bank on positive post-Easter holiday market fundamentals. Wholesale pork carcass values Friday were up $0.35 per hundredweight and steady-to-firm cash hog price calls are seen for Monday. Pork bellies could open firm on possible spillover lean hog support. A mixed CME live… read more
Soybean calls
CHICAGO (Dow Jones)–Soybean futures at the Chicago Board of Trade are poised for a firm start to the first full trading week of April, underpinned by the positive influence of other financial markets. CBOT soybeans are seen opening 2 cents to 3 cents higher.… read more