15 Feb

Soybeans Higher;Corn & Wheat Lower

in Blog, corn, oats, soybean, wheat

 Same story in the grain market today with wheat, and corn lower and beans slightly higher. Wheat futures for March delivery were down another 8 cents closing around 6.27 a bushel continuing to move lower after a false breakout 2 weeks ago at 6.80 a bushel. Corn futures continued their bearish tone finishing lower by 7 cents to close around 6.26 a bushel.

15 Feb

Gold & Silver Higher

in Blog, copper, gold, platinum, silver

A volatile day in precious metals trading today with April gold up 19 dollars on its high of the day before paring gains and closing around 1,729 up 11 dollars for the day. Silver futures in early trade rallied 60 cents before selling off and finishing up only 5 cents.

15 Feb

Coffee Down 6th Day In A Row

in Blog, coffee

Coffee futures are hitting contract lows once again today selling off for the 6th straight day currently trading lower by 100 points at 203.20. Most of the commodities are higher today except for coffee which is acting very weak with little buying interest. Next level of support is 200.50 and 195.00 so a short term bounce isn't out of the question. 

15 Feb

Silver & Gold Higher On Lower Dollar

in Blog, gold, silver

 Precious metal futures are trading higher this morning due to a lower dollar and Mid -East tensions developing between Iran and Israel. Gold futures for April delivery are higher by 13 dollars currently trading at 1,731 an ounce with silver up by 45 cents at 33.77 an ounce. Silver has been in a tight trading range between $33-34,30 an ounce and probably needs some bullish news to be able to break out to new highs.

15 Feb

Crude Oil Higher On Mid-East Tensions

in Blog, crude oil, heating oil, unleaded gasoline

Crude oil futures and its products are higher this morning due to tensions between Iran and Isreal and a possible civil war in Syria. Crude oil futures are higher by $1.15 currently trading at 101.92 which is a 4 week high. Unleaded gasoline futures for March delivery is up 250 points currently trading at 3.01 a gallon with heating oil higher by 250 points at 3.19 a gallon.

15 Feb

S&P Makes New Yearly Highs

in Blog, nasdaq, S&P

The S&P futures contract for March is trading higher by 8 points currently trading at 13.56 which is a new yearly high. Investors are buying equities on the thought that the are cheap and the fact that bond yields are to low to invest any money so asset managers are buying stocks and some commodities. The Nasdaq is also higher by 15 points also trading at new highs at 2590 in early trading.

15 Feb

U.S Dollar Lower:Commodities Higher

in Blog, Euro currency, US dollar

The U.S Dollar is trading lower today against the major foreign currencies selling off by more than 30 points currently trading at 79.38. The Euro currency which sold off yesterday is rebounding 60 points in early trading. The lower dollar is setting an early bullish tone in the commodity and stock sector with everything trading higher except for sugar futures.

15 Feb

Soybeans Rally To 4 Month Highs

in Blog, corn, oats, soybeans, wheat

Soybean futures for March delivery are making new 4 months once again on the night session adding another 6 cents at 12.61 a bushel. The corn and wheat are up 3 cents each while the oats are higher by 2 cents. I still think that the soybeans will test 13.00 a bushel and possibly head back to $14.00 a bushel by spring.

15 Feb

Commodities Rally Sharply In Early Trading

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

The commodity and stock markets are set to open higher on positive ideas that the economy is improving and reversing the pessimism oft he last couple of days. Every single commodity is higher except for sugar which is down 10 points at 24.16 and still stuck in a tight trading range. Soybeans are making new highs once again up 5 more cents at 12.60 and the rest of the grains are higher by 3 cents.

14 Feb

Feeder Cattle Hits All Time Highs Again

in Blog, feeder cattle, hogs, live cattle

Feeder cattle for March delivery rose 150 points to close at an all time high of 156.37 surging on lower corn and soymeal prices and the lowest supply since 1952. Live cattle jumped 112 points to close near its contract high at 129.25. Lean hogs surged more than 165 points to close at 89.65 in heavy trading in Chicago. In my opinion the meats look like they are headed higher going into the summer demand season.

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