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
Tag Archives: market news
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
Possible swing trade setting up in the June Eurocurrency. [chart]
June Eurocurrency has pulled back to downward sloping trend line support. This also puts the market inside the 60% buy window. If support holds the market should move up to test 1.3692 high posted on April 12.… 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
Grains 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
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
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
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