WHEAT – Down 1 to 2 cents per bushel. Firm dollar and ongoing pressure from abundant supply of wheat weigh on wheat futures. Neutral reaction to USDA’s weekly export CORN – Up 1 to 2 cents per bushel. * Support from larger-than-expected number for corn in USDA’s weekly export sales report and forecasts for showers… read more
Tag Archives: Futures
History suggests Iceland’s volcano could trigger major rally in futures.
Iceland has a history of volcano eruptions. Probably the most signifcant is the massive eruption of the Laki volcano in 1783 that lead to one of the greatest disasters in living history. The Laki volcano eruption occurred in the June of 1783 killing thousands and spreading a massive haze that covered most of Europe and parts of North… read more
Gold turns turns higher on projected reversal date! [chart]
Gold traded up to the ascending median line on April 12. From this high, Gold entered into a sharp decline and reached a low of $1124.00 on the projected reversal date of April 19. This is where Gold found support at the lower parallel line and 20- day SMA and closed at $1133.90, confirming the reversal… read more
Is the corrective rally over for the Japanese yen. [chart]
The current corrective rally posted two closes above the 20- day SMA and breached the down-sloping parallel line before failing and turing lower. This is a “double cross” pattern and portends the beginning of a new downward swing for the yen. The pattern also matches the criteria for a continuation pattern that could mark the… read more
Grains Called Higher
Grains Higher at 7:15 a.m. CDT Corn futures are expected to open 3 to 4 higher as of 7:15 a.m. CDT; soybeans 7 to 9 higher; wheat 6 to 8 higher.… read more
Reversal Swing date for the week of April 19 – 23
Monday – Cattle, Silver, Gold, British pound, Australian dollar Tuesday – Soy meal, RBOB gas, Heating oil, T-Notes, Dollar index, Canadian dollar Wednesday – Wheat, Crude oil, T-Bonds Thursday – S&P Friday – Coffee… read more
Grain Calls
WHEAT – Down 1/2 to 1 cent per bushel. Profit-taking expected after the strong technical rally on Thursday. Plentiful supply of wheat continues to slow rallies. CORN – Down 1 to 2 cents per bushel. Outlooks for good U.S. corn planting weather through the weekend into next week weighing on corn futures in addition to… read more
Opening Grain Calls
WHEAT – Down 1 to 2 cents per bushel. Plentiful global supply of wheat weighs, in addition to pressure from a firm dollar. CORN – Down 1 to 2 cents per bushel. Firm dollar and good U.S. corn planting weather combine to weigh on market, in addition to profit-taking after Wednesday’s short-covering bounce. SOYBEANS –… read more
Bullish reaction swing portends new rally in Crude. [chart]
The International Energy Agency said that it expects world oil demand to average 86.6 million barrels per day (mbd) in 2010, slightly more than the previous record high of 86.5 mbd in 2007. Crude zoomed through the ascending median line and closed above the prior swing high of 85.43 on April 6th. From this new… read more
Wheat and Corn Calls
WHEAT – Up 1/2 to 1 cent per bushel. Follow-through technical buying after Monday’s firm close. Wheat market was oversold and due for a bounce but bullish momentum lacking amid plentiful supplies CORN – Down 1 to 2 cents per bushel. Forecasts for good U.S. corn planting weather this week weighs on market countering some… read more