Silver crossed the major ascending median line with good separation. Silver had tested the median three times in the past five days, but pulled back each time. A close above the line–with good separation–is a bullish indicator and portends a continuation of the updward trend. The next target objective is $18.85. However, the major reaction… read more
Tag Archives: Futures Trading
Opening Grain News
CHICAGO (Dow Jones)–Estimates for increased world corn and soybean carryout issued in a U.S. Department of Agriculture report Friday are bearish for Chicago Board of Trade grain and soybean futures, traders said. CBOT corn and wheat are called to open the day session 1-2 cents per bushel lower. CBOT soybeans are called to open 2-3… read more
Current pattern may setting up major sell for Soybeans. [chart]
Soybeans have been trading is sideways trading range for the past two and half months. The last attempt to test the up-sloping median line failed and the market has dropped back to test the lower trigger line. A break below the (red) trigger line is bearish and typically portends a significant price move in the… read more
Spread traders may want to consider this seasonal Soybean spread. [chart]
According to the Moore Research Center of Eugene, OR, it is time to consider the seasonal Soybean spread of long July Soybeans and short November Soybeans. They state that the seasonal recommendation begins on April 4 and runs thru May 7. Moore Research reports that the spread has been profitable 12 out of the past 15… read more
Open Grain Calls
CORN – Down 1 to 2 cents per bushel. Higher dollar, lower crude oil and plentiful supply of feedgrains weigh on corn futures. Some choppy price action amid unsettled U.S. corn seeding weather. SOYBEANS – Down 2 to 3 cents per bushel. Firm dollar, lower crude oil and harvesting of record large South American soybean… read more
Canadian dollar trades at parity with the U.S Dollar! [chart]
The Canada dollar has traded equal to the U.S. dollar for the first time since July 2008. The Canadian dollar, also nicknamed the loonie for the aquatic bird on the C$1 coin, is being supported by the rising price of crude oil and the prospect of higher interest rates. The last time the Canadian dollar traded at par with the U.S… read more
Livestock News
CHICAGO, April 6 (Reuters) – Chicago Mercantile Exchange ive cattle futures were lower early on Tuesday in electronic rading amid profit taking and pressure from lower financials hile firm cash markets and technicals provide support. Lean hogs were higher with April setting a new 19-month igh for a lead contract overnight amid firm cash markets.… read more
Opening Grain Calls
WHEAT – Down 1/2 to 1 cent per bushel. Strong condition ratings for the U.S. winter wheat crop as released by the USDA late Monday and a firm dollar weighs on wheat futures. KCBT HRW winter wheat firm as Iraq buys wheat including 50,000 tonnes of U.S. HRW wheat. CORN – Up 1/2 to 1… read more
Livestock News
CHICAGO (Dow Jones)–Chicago Mercantile Exchange hogs’ could open mostly firm Monday as traders bank on positive post-Easter holiday market fundamentals. Wholesale pork carcass values Friday were up $0.35 per hundredweight and steady-to-firm cash hog price calls are seen for Monday. Pork bellies could open firm on possible spillover lean hog support. A mixed CME live… read more