WHEAT – Down 2 to 4 cents per bushel. Firm dollar weighing on market and plentiful supply of wheat continues to act as an anchor on the wheat market, which occasionally bounces amid short-covering. CORN – Down 3 to 5 cents per bushel. Higher dollar, lower crude oil and outlooks for a bumper U.S. corn… read more
Monthly Archives: May 2010
Profit taking after CME hogs run up Wednesdayis seen pressuring some contracts Thursday
CHICAGO (Dow Jones)–Profit-taking after Chicago Mercantile Exchange hogs’ run up Wednesday is seen pressuring some contracts Thursday. Also, bullish traders may take a step back at first because of uncertainty about whether futures have topped out seasonally or put in a near-term bottom after June and July slid from April 23 contract highs of 87.80… read more
Futures Broker / Grain News
WHEAT – Down 1 to 2 cents per bushel. Firm dollar and abundant supply of wheat weigh on market in addition to weight from corn/wheat spreading. * USDA said 485,500 tonnes of U.S. wheat sold for export last week, above estimates for 300,000 to 400,000. * Cold weather in the U.S. Plains not seen causing… read more
Swing Trading Strategies – How the Reversal swing date triggered swing trade in Silver. [chart]
July Silver peaked at $18.89 on May 3rd, one day after the projected reversal swing date. The following day, Silver began a sharp two-day decline that dropped the price from $18.85 to $17.08. The price decline stopped inside the 60% buy window (based off the price swing from March 25 to April 12), but more… read more
Futures Broker / Grain News
WHEAT – Up 3 to 5 cents per bushel. Following corn higher on news China bought U.S. corn. Investors also seeking safe-haven buys, including gold and grains, on continued worries about financial woes in Greece and the euro zone. CORN – Up 5 to 7 cents per bushel. Supported by news China bought U.S. corn… read more
Swing trading futures – Bearish Reaction in Cotton [chart]
Tuesday’s Crop Production report indicates that U.S. production will increase 37 percent in the next marketing year, due to an increase in harvested acreage and “unusually favorable” soil moisture in Texas. Looking at the chart, I see a bearish swing pattern forming under the 20-day EMA that could trigger the next market decline. Sell Cotton… read more
Futures Broker / Grain Calls
CHICAGO (Dow Jones)–Traders and analysts said Tuesday’s U.S. Department of Agriculture ending stocks data was negative for Chicago Board of Trade soybean and wheat futures. The data looks supportive for CBOT corn, but bearish outside market influences may balance out the lower-than-expected domestic corn ending stocks figures, a CBOT floor source said. Soybean futures are… read more
Swing Trading Strategies – How the Reversal dates picked the high for the Dow Jones futures. [chart]
Last Thursday, the business channels were full of experts expressing shock as the market plunged. They acted surprised that the market could be trading lower in the midst of such a strong and prolonged upward trend. But, was it really a surprise and were there warning signs that preceded the unprecedented price collapse? I think… read more
Swing Trading Strategies – R-Swing date picked high in U.S Dollar
During last Thursday’s trading session the business channels were full experts expressing shock as the market plunged. They acted surprised that the market could be trading lower in the mist of such a strong and prolonged upward trend. But, was it really a surprise and were there warning signs that preceded the unprecedented price collapse? I think… read more
Futures Broker / Grain News
By K.T. Arasu CHICAGO, May 9 (Reuters) – Investors will get a strong dose of fundamental trading points in grains this week from a set of government data expected to point to growing stockpiles of corn and soybeans in the United States. The possibility of damage to the corn crop from freezing temperatures that were… read more