09 Feb

Coffee Prices Re-Testing Contract Lows

in Blog, coffee, suagar

 Coffee prices plummeted after an early rally that tested 222.10 then selling off quickly finishing down almost 500 points closing around 215.20 and re testing contract lows. The coffee market is in a long term down trend, however I believe prices will climb higher on the fact that economies around the world are improving including the most important which is the United States.

09 Feb

Feeder Cattle & Live Cattle Lower: Hogs Higher

in Blog, feeder cattle, hogs, live cattle

 Compared to the rest of the markets the meats were very quiet today in light trade in Chicago . Feeder cattle was down only 15 points to settle around 155.15 and still remains stuck near all-time highs. Live cattle was down 60 points to around 125.15 still about 125 points from contract highs. The USDA crop report basically restated the fundamental news from last month not affecting price action.

09 Feb

Unleaded Gas & Heating Oil Make New Highs

in Blog, cfrude oil, heating oil, unleaded gasoline

 Fresh contract highs in heating oil and unleaded gasoline futures today both closing near the highs of the day in a volatile trade in New York. Crude oil futures finally joined the party and rallied $1.15 to close around 99.85 a barrel with the contract high still 4 dollars away standing at 104. Unleaded gasoline futures broke through the $3 a gallon today gaining almost 400 points to close around 3.01 a gallon.

09 Feb

Wild Trade In Precious Metals

in Blog, copper, gold, silver

Wild day in the precious metals today with gold leading the way up over 20 dollars in early trade just to sell off and finish up about 5 dollars to close at 1,735 an ounce.  Silver futures were higher by 70 cents at one point and also reversed and sold off finishing 20 cents higher to close around 33.87 an ounce. Copper futures were higher today by 600 points to close around 3.96 which is a new contract high as well.

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

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