WHEAT – Down 2 to 4 cents per bushel. Concerns about China’s interest rate hike weighed on market but drop expected to be limited by weakness in U.S. dollar and low-quality of Australia’s crop. * China says supplies of wheat are sufficient. * Russian wheat output fell by 32.7 percent to 41.5 million tonnes in… read more
Tag Archives: Commodity Trading
EIA Inventory Report / Futures Broker
EIA Inventory Report * Crude stocks fall 5.33 million barrels * Distillate stocks off 589,000 barrels * Gasoline stocks up 2.4 million barrels NEW YORK, Dec 22 (Reuters) – U.S. crude inventories fell more than expected last week while gasoline stocks rose, according to a weekly report from the Energy Information Administration on Wednesday. Domestic… read more
Hogs Higher On Higher Cash Prices / Futures Broker
KANSAS CITY (Dow Jones) — U.S. hog futures are sharply higher in early trading Wednesday on stronger-than-expected cash prices just ahead of the christmas holiday, expectations of smaller slaughter-ready hog supplies by mid-January and spillover support from gains in cattle and most other commodity sector.… read more
Home Sales Less Than Expected / Futures Broker
WASHINGTON, Dec 22 (Reuters) – Sales of previously owned homes rose less than expected in November, suggesting the U.S. housing sector is struggling to gain traction as high unemployment and tight lending standards continue to hamper recovery. Sales rose 5.6 percent to a seasonally adjusted annual unit rate of 4.68 million units, the National Association… read more
Grain Calls Mixed /Futures Broker
WHEAT – Down 2 to 4 cents per bushel. Outlooks for drier weather in Australia’s wheat harvest lending pressure, but market underpinned by dryness in the U.S. Plains hard red winter wheat region. CORN – Up 2 to 4 cents per bushel. Gains for sixth straight session to a 28-month high on hot and dry… read more
Swing Trading Strategy – March Coffee reaches reaction line target objective! What’s next? [chart]
In last night’s issue of the TMV Swing Trading report I wrote, ” – One of Dr. Alan Andrew’s (the Andrew’s Pitchfork is named after him) trading principles states that the market should reach the latest median line 80% of the time. The current chart of March Coffee offers a very good example of this… read more
Grain Opening Calls and News / Futures Broker
WHEAT – Up 1 to 3 cents per bushel. * Market supported by concerns about tight supplies of quality wheat following weather problems in Australia and dry conditions in the U.S. Plains. Softer dollar lends support. Wheat also seen as oversold following active corn/wheat spreading this month. CORN – Steady to up 1 cent per… read more
Swing Trading Strategies – Coffee reaches target objective! What now? [chart]
TMV Swing Trading Report – Long March Coffee from 212.20. – Coffee surged out of the new reaction swing and reached the initial target objective of 224.25. The market had paused and formed a new reaction swing between December 13th and December 16, setting the stage for today’s sharp price advance. The longer-term target objective remains at upper… read more
Grain Opening Calls / Futures Broker
WHEAT – Down 2 to 4 cents per bushel * Consolidation expected as some traders close out positions ahead of the weekend. Losses will be limited by weather problems in the U.S. Plains and Australia. * Some light snow expected in the U.S. Southern Plains on Friday but dry conditions forecast for Saturday through Tuesday,… read more
Swing Trading Strategies by John Crane – This pattern failure could lead to major move in the Eurocurrency! [chart]
March Eurocurrency has formed a bearish A-B-C continuation pattern after posted a sing pattern failure on the December 14th reversal date. This type of pattern typically precedes a significant price move in the prevailing trend direction. The zig zag pattern can also identify the center of the longer-term cycle. If this is confirmed, the euro… read more