WHEAT Wheat futures traded higher on low volume. Light delivers on July contracts offered support. Recent U.S rains has slowed US winter wheat harvest. USDA estimated harvest near 15 pct done versus 34 average. OK is 43 vs 78. KS is 5 vs 36. MO is 18 vs 51. USDA rated the crop 61 pct good/excellent vs 64 last week…
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How long does a meaningful consolidation have to last before you enter a trade ? In my opinion I always want to see a consolidation that lasts at least 8 or more weeks before I would consider entering. The reason that I want a longer consolidation is to try and avoid a bunch of false breakouts such as a 10…
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Coffee Futures—Coffee futures in the September contract is currently trading lower by 45 points at 107.00 a pound as prices are near a 3 week high looking to retest the June 4th high of 108.60 in my opinion and if that is broken you’re looking at a 4 1/2 month high. At the present time I’m not involved in coffee,…
10 Year Note Futures—The 10 year note in the September contract is trading higher for the 2nd consecutive trading session up 6 ticks at 128/04 as I am now recommending another bullish position while placing the stop loss on all 3 contracts at the 2 week low which now stands at 126/ 31 as an exit strategy. The yield on…
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