S&P 500 Futures—The S&P 500 in the June contract is currently trading at 2906 down 4 points in a very quiet trade this Monday afternoon in Chicago as the volatility remains exceptionally low. If you have followed any of my previous blogs you understand that I’m very bullish the U.S equity market despite today’s slight sell off as I do…
Soybean Futures–-Soybeans in the July contract is trading lower by 4 cents at 8.90 a bushel hitting a 6 month low as the grain market as a whole remains bearish across the board. In my opinion I think prices will retest the October 31st low of 8.83 and then test major support at the contract low at 8.65 in the…
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Soybean Futures—Soybean futures in the May contract is currently trading lower by 12 cents at 8.87 a bushel right near a 6 month low as the grain market across the board is under pressure this Tuesday afternoon in Chicago. If you take a look at the daily chart the downtrend line remains intact and if prices break the March 29th…
Wheat Futures—Wheat futures in the May contract is lower by another 13 cents at 4.49 a bushel under pressure for the 2nd consecutive trading session hitting a 4 week low. The grain market in general continues to grind lower as there is nothing bullish about the agricultural sectors at this time as we await for some type of trade agreement…
Corn Futures—Corn futures in the December contract finished unchanged at 3.89 a bushel which is considered the new crop and is currently being planted in the Midwestern part of the United States as I will now focus on this contract for the rest of the growing season. The WASDE crop report was released today stating that carry over levels increased…
Wheat Futures—Wheat futures in the May contract settled down 2 cents at 4.65 a bushel as traders are waiting for tomorrow’s crop report which will send some fresh news back into this market. If you are bullish and are long a futures position I would place the stop loss at 5.52 as an exit strategy. If you are bearish and…
Soybean Futures—Soybean futures in the May contract is currently trading higher by 1 penny at 9.00 a bushel as traders are awaiting tomorrow’s crop report which should send some short-term price direction back into this market. I’ve talked about the grain market & soybeans for quite some time as I still have the same opinion I think prices go nowhere…