08 Feb

Commodities Higher On Weaker Dollar

in Blog, commodities

The commodity markets are slightly higher today buoyed by a lower dollar against the foreign currencies. Energy futures are higher again with heating oil and unleaded gasoline hitting contract highs while awaiting the API report which comes out this morning. I think all the markets are going higher and one should position themselves for higher commodity prices and therefore higher prices at the store.

07 Feb

Feeder Cattle Near All Time Highs

in Blog, cocoa, coffee, feeder cattle, hogs, lumber, sugar

 Feeder cattle prices are still hovering around their historical highs at 155 this week awaiting a crop report on Friday from the USDA Department of Agriculture which could impact cattle prices because of the cost of feed such as corn or soymeal go higher which can send cattle prices lower. In the last year feeder cattle has kept climbing and still looks like there could be further upside to go.

07 Feb

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

in Blog, Taliking About Commodities

On February 9th which is Thursday, I will be on Bloomberg business channel at 9AM CT discusing the bond market as well as the impact of historically low interest rates on stock and commodity prices. If you are looking to invest in bond futures or any commodity please call me at 800-615-7649 and I will help you with any questions you may have.

07 Feb

Lumber & Sugar Lower; Cocoa & Coffee Higher

in Blog, cocoa, coffee, lumber, sugar

Lumber futures sold off 600 points to close around 266.20 today blamed on profit taking from the recent run up in prices. This market in my opinion is bottoming and should be bought on dips. Coffee rallied from early lows to finish higher by 200 points to close around 221.10.

07 Feb

Stocks Make New Yearly Highs

in Blog, nasdaq, S&P

 The S&P continues its bull run in early 2012 gaining another 6 points to close at a new yearly high of 1345. Earning season has been pretty solid and commodity prices have risen which is bullish certain stock sectors such as mineral, gas, or grain companies. The Nasdaq continues to make contract highs again today gaining 5 points in a quiet session. In my opinion these markets will continue to climb higher going into the summer months.

07 Feb

Dollar Hits 8 Week Low Against Euro

in australian doller, Blog, Euro currency, US dollar

 The U.S Dollar traded at 8 week lows against the major foreign currencies today in heavy trading. The Euro currency was higher by 132 points closing around 1.3255 and closed right near the highs of the day. The Australian dollar made fresh contract highs again today closing higher by another 70 points at 1.0750. The dollar I believe is still headed much lower and could retest 2008 lows of around 72.50.

07 Feb

Crude Oil Higher On Dollar Weakness

in Blog, crude oil, heating oil, unleaded gas

 Crude oil futures for March delivery rallied sharply off of the falling dollar to close up $1.60 to close around 98.60 a barrel. The products were not as strong as crude today with unleaded gas finishing unchanged for the trading session. Heating oil futures made fresh contract highs today closing up another 2 cents to close around 3.19 a gallon. I still believe that these markets will continue to climb higher as worldwide economies improve.

07 Feb

Grain Market Quiet Awaits Report

in Blog, corn, oats, soybeans, wheat

 A very quiet trading session in grain market today with traders keeping a close eye on Thursdays USDA crop report. Soybean futures were down only 1 cent to close around 12.32 a bushel in only a 12 cent trading range today. Corn futures were lower all day and finished down by 2 cents to close around 6.42 a bushel. Corn has been in a 10 cent trading range for 2 straight weeks and could breakout to the upside if some bullish news comes out of Thursday’s report.

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