Blog

09 Feb

Big Price Reversal In Grains Today

in Blog, corn, soybeans, wheat. oats

  Big reversals again in the grain market off of a very neutral crop report which basically kept carryover and production the same as last report. Wheat futures after a recent breakout has given all of those gains back sliding 16 cents today to close around 6.45 a bushel. The recent rally might have been a false breakout to the upside after tomorrows trade we will have a better idea.

09 Feb

Mike Seery Talks Bonds & Commodities On Bloomberg Business At 9am ct

in Blog, Taliking About Commodities

I will be on with the Bloomberg Business channel at 9am ct speaking about the bonds and how they are influencing the stock and commodity markets. If you have any questions about the show please call me at 800-615-7649 and I will be more than happy to help.

08 Feb

Cotton Prices Quiet Ahead Of USDA Report

in Blog, cotton

Cotton prices in recent weeks have rallied from recent contract lows of 86.00 to todays high of 95.79 before profit taking ensued and settled at 93.62 a bale near the lows of the day. The USDA report will effect cotton prices on a short term basis however I think prices may have bottomed going into the spring and summer months. If you need to review the report please feel free to give me a call at 800-615-7649

08 Feb

Coffee & Sugar Comments

in Blog, coffee. orange juice. cocoa, sugar

 Coffee and sugar continued to trade sideways today waiting for fresh fundamental news to propel the price higher or lower in the short term. If you are long these 2 markets my advice would be to keep stops at contract lows which will limit your loses if you are incorrect. Orange juice hit 3 week lows on crop damage reports being exaggerated so prices have dropped quickly from 230 to 185.

08 Feb

Milk Prices Plummet Again!

in Blog, milk

 I don’t have to tell the dairy farmers out there about the price of milk dropping compared to the rest of the markets which have been going higher. Milk hit new recent 7 month lows in heavy trading today due to a supply glut. Just back on Jan 9th prices peaked at around 18.00 and now are hovering around 15.40 which have producers shaking their heads at this type of volatility.

08 Feb

Watch Mike Seery On Bloomberg Thursday 9am --Talking Commodities

in Blog, Talking Commodities

I will appear on Bloomberg business tomorrow at 9am ct talking about bonds and their effect and influence on the commodity and stocks markets.If you are looking to trade bonds or any type of commodity please give me a call at 800-615-7649

08 Feb

Meats Mixed In Quiet Trade

in Blog, cattle, feeder cattle, hogs

Live cattle futures for April delivery continue to flirt at contract highs however settling higher by only 20 points to close around 128.75. Feeder cattle prices were also quiet today waiting for tomorrows USDA crop report for new fundamental data which could determine the short term direction. Feeder cattle prices closed higher by 45 points to close around 155.40 while hogs futures were lower by 10 points to close at 98.35 for June delivery.

 

08 Feb

Unleaded Gas Hits New Highs

in Blog, crude oil, heating oil, unleaded gas

Crude oil futures for March closed higher by only 30 cents to close around 98.70 a barrel however at one point during the trading session traded above $100 dollars a barrel. Unleaded gasoline made fresh contract highs today to close around 2.97 a gallon and looks likely that it will cross over $3 dollars a gallon soon and produce a cost hike that consumers will see at the pump. Heating oil was down only 50 points to close around 3.18 a gallon in a two sided trade today.

08 Feb

Grain Market Has Big Swings: Awaits Report

in Blog, corn, oats, soybeans, wheat

 The grain market had some wild swings today erasing early gains just too turn negative going into tomorrow’s USDA report on crop inventories and production. There are many mixed views on how large the South American crop will be and what the size of the carryover. The report last month was very bearish across the board with corn trading limit down and wheat and beans sharply lower.

08 Feb

Gold & Silver Lower On Profit Taking

in Blog, copper, gold, platinum, silver

Gold futures sold off sharply today erasing early gains finishing near the lows of the day at 1,730 an ounce down over $18 dollars. Profit taking blamed for the selloff. Silver futures also reversed early gains by selling off 50 cents to close around 33.75 an ounce. Today’s trading session was very volatile and should continue with wild swings on both sides. Copper futures finished higher by 200 points to close around 3.90 which is a new 6 month high.

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