TMV Swing Trading Report – Short December Coffee from 144.50 – Today is the 1st notice day for the December Coffee so volume will begin to shift into the March. Therefore I am looking for a quick in and out of the current short position. Use 143.25 for a target objective.
Market News – Traders Eye Grain Prices Rebound as Supply Set to Tighten.
Grain prices that tumbled in recent weeks may rebound as demand stays robust while global stockpiles tighten after drought hurt crops from the U.S. to Russia. Corn on the Chicago Board of Trade, the global benchmark, has slipped 13 percent since reaching a record $8.49 a bushel on Aug. 10, and wheat traded in Paris is down 4.8 [...]
U.S. Corn Stockpile Unexpectedly Drops, Sparks Price Rebound
Stockpiles of corn in the U.S., the world’s biggest grower and exporter, were 12 percent lower on Sept. 1 than a year earlier and the smallest before a harvest since 2004. Prices jumped the most since July. Inventories totaled 988 million bushels, down from 1.128 billion a year earlier, the U.S. Department of Agriculture said [...]
Gold Rallies To A 16-Week High As Fed May Add Stimulus
Gold advanced to the highest in 16 weeks amid speculation that the U.S. will take additional steps to spur economic growth, boosting the appeal of the precious metal as an inflation hedge. Platinum extended a rally. Minutes from the Federal Open Market Committee’s July 31- Aug. 1 meeting showed that “many members” believed more monetary [...]
Commodities Headed For Bull Market As U.S. Drought Withers Crops
Commodities are poised to enter a bull market led by surging grain futures amid the worst U.S. drought in half a century and on mounting optimism growth in the U.S. and stimulus from China will boost demand. The Standard & Poor’s GSCI gauge of 24 raw materials rose as much as 1.2 percent to 677.29 in London, the highest since [...]
Market News – USDA Cuts Forecasts for US Corn and Soybeans!
WASHINGTON–Drought in much of the Midwest is taking a sharp toll on corn and soybean yields, according to the U.S. Department of Agriculture, which on Wednesday cuts its forecasts for production this year. The average corn yield this year, USDA said in its monthly supply and demand report, is now estimated to be 146 bushels [...]
Market news – Sugar Bulls Strongest In Six Months On Brazil Rain: Commodities
Sugar traders are the most bullish in six months after prices moved to within three percentage points of exiting a year-long bear market as rain delayed cane processing in Brazil, the biggest producer. Nine of 11 analysts surveyed by Bloomberg said they expect raw sugar to keep rallying next week and two were bearish, the highest proportion [...]
Market News – Payrolls In U.S. Rose 80,000 In June; Jobless Rate 8.2%
Employers in the U.S. hired fewer workers than forecast in June, showing the labor market is making scant progress toward reducing joblessness. Payrolls rose 80,000 last month after a 77,000 increase in May, Labor Department figures showed today in Washington. Economists projected a 100,000 gain, according to the median estimate in a Bloomberg News survey. [...]
Market news – USDA Grain report offers no major surprises, traders keep eye on worsening drought
–No major surprises in USDA reports; USDA estimates higher corn and soybean plantings –Traders look past reports and keep trading on worsening drought, favorable outside markets –USDA estimate for spring-wheat planting lower than expected By Owen Fletcher and Kristina Peterson CHICAGO–U.S. corn and soy futures rose Friday as traders looked past higher-than-expected federal government forecasts [...]
Market News – Crop Traders Bullish For Ninth Week On U.S. Drought
Soybean and corn traders are bullish for a ninth week on mounting concern that dry weather will cut U.S. crop yields at a time when hedge funds are adding to wagers on higher prices. Twenty-three analysts surveyed by Bloomberg said they expect soybeans to climb next week and three were bearish. A further four were neutral. Twenty [...]