14 Feb

Crude Oil & Products Mixed

in Blog, crude oil, heating oil, natural gas, unleaded gasoline

Mixed trading for crude oil and its products with heating oil ending higher by 2 cents and unleaded gasoline finishing down by 2 cents with crude oil futures for March delivery closing around unchanged for the day. Crude oil almost traded as high as $102 a barrel before selling off when the dollar reversed and went positive for the day.

14 Feb

Soybeans Slightly Higher;Corn & Wheat Down

in Blog, corn. wheat, soybean. oats, soymeal

The grains as well as many other commodities sold off today blamed  on the stronger U.S dollar, however soybeans bucked the trend finishing up 3 cents to close around 12.55 a bushel for the March delivery extending gains made last week. The strength in the grain market is soybeans and soybean meal the others are just moving sideways with a neutral trend. Soybeans could test 13.00 in my opinion before the March options go off the board next Friday the 24th.

14 Feb

Gold & Silver Lower On Stronger Dollar

in Blog, copper, gold, silver

Gold futures for April delivery were lower today by $7 dollars to close around 1,718 an ounce blamed on the strength in the U.S dollar against the foreign currencies. Silver futures were also lower by 30 cents to close around 33.40 an ounce.

14 Feb

Lumber & Sugar Trading Lower

in Blog, lumber, sugar

Lumber futures traded limit down briefly before rallying a little bit to  be currently trading at 268.70 down 670 points. I believe this is the start of a bull market, however I do think lumber will give you a chance to buy around 255 or so. Sugar futures sold off sharply down over 50 points and stuck in a tight consolidation .

14 Feb

Strong Dollar;Weak Commodities

in ausralian dollar, Blog, Euro currency, US dollar

The U.S dollar today is rallying strong against the major foreign currencies trading higher by 40 points at 7945. The Australian dollar is lower by 60 points and the Japanese Yen and British Pound are both down over a hundred points.The Euro currency is weaker by 60 points after 6 European countries credit was down graded by Moody's last night. The strength in the dollar today has sold off most of the commodity and stock market in afternoon trade.

14 Feb

Coffee Hits New Lows

in Blog, coffee

Coffee prices for March delivery have hit another contract low of 209.10 which is the 4th consecutive down day. The trend in coffee is very bearish with little bullish news except for the general rise of commodity prices over the last 2 years. If you are in the coffee business hedging would be very wise in my opinion.

14 Feb

Commodities & Stocks Down Awaits Retail Sales

in Blog, coffee, energies, grains, metals, S&P

The commodity markets are lower across the board early this morning awaiting the retail sales number which could move the markets. All sectors are lower including metals, grains, energies, and coffee is making new lows as well. Retail sales up 0.4% which was less than expected which has sent the S&P down 2 points.

13 Feb

Grains Quiet On Night Session

in Blog, corn, soybeans, wheat

The grain market is quiet tonight with corn, wheat, and soybeans all about unchanged for the trading session. The soybeans earlier today reached 4 month highs and is looking at $13.00 as its next possible target in price. The wheat breakout is 6.83 and corn is around 6.60 a bushel to re start the bullish trend in both of those grains. The soymeal was the real strength again today and is the leader in the soy complex.

13 Feb

Cotton Higher: Lumber 5 Month Highs

in Blog, cotton, lumber

 Cotton Futures rallied 90 points after a sharp selloff late last week. Cotton for March delivery settled at 91.52 and from the recent high to the recent low the price is at the 50% retracement from the recent rally. This will be interesting to see if the bottom has been made or a re-test of contract lows at 84.00 which happened in Mid-December.

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