By Andrew Johnson Jr. CHICAGO-U.S. grain and soybean futures ended the overnight electronic session mixed Thursday, with wheat futures displaying independent price strength. Wheat futures were supported by ongoing concerns about the U.S. wheat crop potential as dry weather continues to hamper the development of winter wheat i the Plains while rain in spring wheat [...]
Market Alert! Bullish TR pattern sets up bullish signal pattern in December Copper.
December Copper appears to be forming a “double cross” bullish reaction swing at the 20-day EMA. A trade above the (C) high of 3.5405 will confirm bullish reaction swing and trigger a new upward price advance. Buy Copper at 3.5415 stop, with a stop loss underneath the (D) pivot low.
Market Alert! Long December Coffee approached major price objective!
TMV Swing Trade report – Long December Coffee from 173.85 – last price @ 182.75 – Coffee continued the string rally that began on the 9/28 reversal date and is poised to test the (C) swing high (183.70, posted on 9/14). Many times price will stall or even stage a short-term pullback after taking out the (C) [...]
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 [...]
Market Update – Crude oil triggers sell signal! – swing trading, median line, price action
TMV Swing Trading Report – Short November Crude oil from 90.92 – Crude traded through the 90.92 trigger price to confirm the reaction swing and new short position.
Market News – Crude Inventory report –
*DJ DOE: US Crude Oil Stocks +1.994 Mln Bbl At 359.092 Mln Bb *DJ DOE: US Heating Oil Stocks +0.093 Mln Bbl At 28.837 Mln B
Market News – CME expands Globex Trading hours for Grains.
Beginning May 14, 2012, the CME Globex will expand the trading hours to 22 hours per day. The new expanded hours will affect the following markets: CBOT Corn, Wheat, Soybean, Soybean Oil, Soybean Meal, Oats and Rough Rice futures and options. The the new hours will allow market participants greater access to these key agricultural [...]
Market news – Oil Falls on U.S. Inventory Forecasts, European Outlook
Crude dropped after the American Petroleum Institute said U.S. inventories rose to a 10-month high last week amid speculation that a slowing European economy may reduce demand. Prices fell as much as 0.6 percent on the report that supplies rose 3.41 million barrels to 369.3 million in the week to April 13. The Energy Department may say [...]
Market news – Cocoa Drops to Seven-Week Low on Ample Supplies; Coffee Declines
Cocoa fell to a seven-week low in London on signs of ample supplies. Coffee and sugar dropped. Cocoa output may exceed demand by 110,000 metric tons, Asset & Resource Management Co. in Lagos, Nigeria, said in a report on April 2. Cocoa inventories in warehouses monitored by ICE Futures U.S. rose to almost 5.5 million bags on April [...]
Soybeans Advance to Highest Since September as Brazil Cuts Crop Forecast
Soybean futures rose for a second day to the highest level in five months in Chicago after Brazil, the largest shipper of the oilseed, cut its forecast for production this year. Farmers in Brazil will harvest 68.7 million metric tons of soybeans in the crop year through August, less than a February estimate of 69.2 million [...]