By Andrew Johnson Jr. Of DOW JONES NEWSWIRES CHICAGO (Dow Jones)–U.S. wheat futures are poised for a weaker start to Tuesday’s day session, consolidating recent gains on favorable crop ratings and a lack of fresh supportive news. In overnight electronic trading, Chicago Board of Trade September wheat was 1 3/4 cents lower at $5.34, and… read more
Monthly Archives: July 2010
Swing Trading Strategies – How the June 29th reversal date confirmed major buy for Wheat. [chart]
– A look at the recent chart of the September Wheat shows a very good example of “action/reaction” combined with a reversal date projection. Combining the two unique trading techniques can be a very powerful swing trading strategy. The first thing I want you to notice is the June 29th reversal date, marked as the (D) pivot… read more
Futures Broker / Grain Calls and News
WHEAT – Down 2 to 3 cents per bushel. Spillover pressure from Friday’s bearish USDA U.S. wheat production and ending stocks reports. Also pressure from a firm dollar and seasonal harvest weight. * Hot and dry weather in Europe remains a concern while overall satisfactory crop weather continues in the U.S. CORN – Down 1/2… read more
Reversal dates for the week of July 12 – July 16.
Monday – Cattle, Soybeans, Gold, Cocoa, Coffee Tuesday – S&P, British pound Wednesday – Thursday – Crude oil, Natural gas, Treasury bonds, Dow Jones, Australian dollar, Coffee Friday – Cocoa… read more
Futures Broker / Grain Report and Calls
CHICAGO (Dow Jones)–Friday’s U.S. Department of Agriculture ending stocks data were deemed by traders and analysts to be slightly bearish for Chicago board of Trade soybean, corn and wheat futures. The report did not provide any surprises, with a drop in world ending stocks or corn and wheat seen priced in the market considering the… read more
Crop Production 7/9/2010 – Futures News
CHICAGO, July 9 (Reuters) – The U.S. Agriculture Department on Friday reduced its estimate of U.S. corn ending stocks for both the 2009/10 and 2010/11 marketing years. The USDA pegged 2009/10 ending stocks at 1.478 billion bushels, compared with an average trade estimate for 1.40 billion bushels and down from the USDA’s June estimate of… read more
Swing Trading Strategies – Dow Jones rallies to target objective in two days after predicted low! What now? [chart]
September Dow Jones – Dow Jones futures rallied for the second day in a row after it was reported that American retail sales grew at the fastest pace in four years. This news gave traders optimism that consumer spending is holding strong in spite of the drop in confidence. Technically, the market has continued to… read more
Futures news – Initital Jobless Claims (7/8/2010)
WASHINGTON, July 8 (Reuters) – New U.S. claims for unemployment insurance fell more than expected last week, government data showed on Thursday, while the number of people continuing to receive benefits in the final week of June was the lowest in seven months. Initial claims for state unemployment benefits dropped 21,000 to a seasonally adjusted… read more
Futures Broker / Grain Calls and News
WHEAT – Up 1 to 2 cents per bushel. Support from hot and dry weather in Europe that was posing a threat to wheat crops. Led up by gains in milling quality of KCBT HRW wheat as milling wheat in Paris holds near one-year highs after trading large volumes on Tuesday. * Hot and dry… read more
Futures Broker / Grain News
By Mark Weinraub CHICAGO, July 6 (Reuters) – The U.S. Agriculture Department lowered its good to excellent ratings for U.S. corn and soybeans on Tuesday as damp conditions took a toll on crops in key production states such as Iowa. In its weekly report, USDA rated the corn crop as 71 percent good to excellent,… read more