December Copper – Copper resumed the longer-term bullish trend after ending the four-day corrective pullback into a projected reversal swing date. The pullback ended on the September 13th reversal/reaction day after the market found support at the 20-day EMA and lower parallel line before reversing and trading higher for the remainder of day. The market… read more
Monthly Archives: September 2010
Grain News and Opening Calls – Futures Broker
WHEAT – Down 3 to 5 cents per bushel. Pressure from news Australia increased its forecast for wheat exports and Russian Prime Minister Putin repeated that Russia would not need to import grain. * Australia ups 2010/11 wheat export forecast 26 percent. * Russia has enough grain, no export until 2011 harvest-PM. * Dry conditions… read more
Grain Opening Calls – Future Broker
WHEAT – Up 8 to 10 cents per bushel. Support from active exports of U.S. wheat as global production declines. A weak dollar also lending support. * High Ukraine wheat prices prevent export to Russia. * Australia heads for biggest wheat crop in 5 years – ACF * Dry conditions continue to hamper winter wheat… read more
Important News to watch this week – Futures News (9/13/2010 – 9/17/2010)
Indicators to Watch this Week. •Consumer pulse: Retail sales figures come out Tuesday pre-market (8:30 a.m.) and the closely watched Michigan Consumer Sentiment Index is released Friday morning (9:55 a.m.). A declining consumer sentiment figure is considered an early signal of a coming downturn in the economy. • Inflation/deflation watch: How much we might be… read more
Reversal Dates for the week of Sept 13 – Sept 17
Monday – RBOB gas, Copper, Cotton, Sugar, Coffee Tuesday – Hogs, Australian dollar Wednesday – Wheat, Dow Jones, Coffee Thursday – Cattle, Soybeans, Gold, Canadian dollar, Eurocurrency Friday – Cocoa… read more
Crop Production – Futures News (9/10/2010)
CHICAGO, Sept 10 (Reuters) – The U.S. Agriculture Department on Friday reduced its yield forecast for U.S. corn this year to 162.5 bushels per acre from its August estimate of 165.0 bushels after hot, dry weather last month hurt the crop. Traders and analysts polled by Reuters had expected the department to peg the average… read more
Crude Oil Inventories – Futures News
NEW YORK, Sept 9 (Reuters) – U.S crude oil inventories last week fell unexpectedly as refineries ramped up their utilization rates, a government report showed on Thursday. Distillate and gasoline stocks also fell in the week to Sept. 3, as distillate output slipped and total product demand over the last four weeks rose 0.7 percent… read more
Opening Grain Calls – Futures Broker (9/9/2010)
WHEAT – Up 3 to 5 cents per bushel. Short-covering technical bounce after the sharp decline on Wednesday. Position-squaring ahead of Friday’s USDA September crop report that is expected to show a drop in global wheat production. Prospects for increased U.S. wheat exports helps underpin wheat futures. CORN – Down 1 to 2 cents per… read more
Swing Trading Strategies – Long “Aussie” dollar hits target objective! [chart]
TMV Swing Trade Report – Long September Australian dollar @ .9055. – Hit the Target! – The long position was closed at the target objective .9225. For updates on other current recommendation www.tradersnetwork.com… read more
US Trade Balance – Futures News (9/9/2010)
Trade deficit narrows to $42.8 billion in July By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — The trade deficit narrowed significantly in July as exports climbed to the highest level in nearly two years, reflecting big gains in sales of U.S.-made airplanes and other manufactured goods while imports declined. The July deficit fell 14… read more