WHEAT – Down 1/2 to 1 cent per bushel. Pressure from a firm dollar, but market underpinned by dry weather in the U.S. winter wheat region that is leading to concern about seedings of the 2011 crop. * Dry weather beginning to cause concern in the winter wheat areas in the U.S. Midwest and also… read more
Monthly Archives: October 2010
Reversal dates for the week of October 18 through October 22.
Monday – S&P Tuesday – Soybeans, Heating oil, Silver, Dow Jones Wednesday – Wheat, Coffee Thursday – Corn, Soymeal, Cocoa Friday – Cattle, Bean oil, Silver, Copper… read more
Grain News and Opening Calls / Futures Broker
WHEAT – Up 3 to 5 cents per bushel Weak dollar, corn strength supportive to wheat futures. Dry weather in key winter wheat-planting areas also viewed as bullish. Traders say market prone to profit taking on rallies. * Rainy weather boosts soil moisture in eastern half of U.S. Midwest, but more storms needed for winter… read more
Retail Sales 10/15/2010 – Futures News
WASHINGTON, Oct 15 (Reuters) – Sales at U.S. retailers rose a stronger-than-expected 0.6 percent in September, lifted by big-ticket items including autos, electronics and appliances, Commerce Department figures showed on Friday. Analysts polled by Reuters had expected an increase of 0.4 percent for September, after an upwardly revised 0.7 percent gain in August. Excluding autos,… read more
Initial Jobless Claims 10/14/2010 _ Futures News
WASHINGTON, Oct 14 (Reuters) – The number of people filing new claims for unemployment insurance rose to a higher-than-expected 462,000 in the latest week, the Labor Department said on Thursday, while the number of people still collecting jobless benefits fell to an almost two-year low. First-time jobless claims rose 13,000 in the week ended Oct.… read more
Trade Deficit 10/14/2010 _ Futures News
Trade deficit widens sharply to $46.3 billion By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — The U.S. trade deficit widened sharply in August, reflecting a surge in imports of consumer products as businesses restocked their shelves in hopes of a pickup in consumer demand. The politically sensitive deficit with China climbed to an all-time… read more
Grains Opening Calls / Futures Broker
WHEAT – Up 2 to 4 cents per bushel Strength in corn, weaker dollar expected to lead wheat futures higher early. CORN – Up 3 to 5 cents per bushel Prices expected to resume upward trend, after pause on Wednesday, as weak dollar spurs buying from investors seeking hedge against inflation. Commercial buying noted after… read more
Swing Trading Strategies – How looking into the past will help find critical support or resistance in the future.[chart]
Past market action can offer invaluable information about future market reactions. Simply by looking into the past you can identify key support and resistance levels that may have a profound affect the next price movement of the market. Just recently, November Soybeans offered a very good example of past price action affecting the futures price reaction.… read more
Grain Opening Calls and News / Futures Broker
WHEAT – Down 4 to 6 cents per bushel Market considered overbought after Friday’s corn-led rally. Firm dollar also overhanging prices. Traders waiting for results of Egyptian tender to give direction to market. * Dry weather a concern for planting of this year’s winter wheat crop in places like Indiana and western Ohio. CORN –… read more
Market news to Watch – 10/11/2010-10/15/2010: Futures News
Five Market Changers to Watch This Week ________________________________________ • Fed chief speaks: Ben Bernanke, chairman of the Federal Reserve, will speak early Friday morning (8:15 a.m.) on “monetary policy in a low inflation environment.” Reaction to the speech could be strong. Experts expect the dollar to regain ground next week in light of its decline… read more