Commodities Put on the Rally Cap Today

Put on your rally caps, apparently…
An across the board rally in all commodities brought prices higher after mid-morning in the grains.
We saw early weakness in Nov Beans from the higher stocks report, but those concerns quickly dropped away with a 17 cent rally up to the resistance I talked about early, the 930 level. 931 was the high print, and the SX settled 5 cents lower from that high at 926. Both Corn and Wheat rallied as well, all in sympathy with pretty much rallies across all spectrum today…

The stock indexes rebounded sharply rallying over 150 pts in the Dow from […]

Hump Day a Rally Day for Grain Markets in Chicago?

Nov beans broke early on the stocks report showing higher than anticipated stocks. We then quickly rallied a nickle, consolidated around the 915 to 918 level, and are currently rallying, seeming poised to punish fundamental traders who got short on the opening on the stocks report. Longer term, prices look like they should go lower, however, in the mean time we are looking for 20 to 30 cent rallies to punish the shorts.
Markets like these chop around attempting to dislodge position traders.
That is why i believe these 20 cent run ups are good short term selling opportunities for 3 to 5 cent […]

Nine Dollar Soybeans or Seven Dollar Soybeans?

Last night saw a flush down to 912 in grains followed by a bounce back to 923 1/2. Wheat looks bad on the charts after WZ settled below 450 yesterday.. The short covering rally in the corn was a bit confusing, with CZ bouncing 5 cents higher after posting a new low… Today’s reaction to FC stone and the stock reports should give better sense as to where these grains want to go..

SX still needs to get above 935 level to get bullish if you look at the charts.
In the stock indexes, there is some bearish pressure today, Spoos are down 11 […]

Will the Dow Break 10000? Here we sit at 9750

If you are interested in those links here they go to utube. search for I still think the spoos will have to test the 1100 level and the Dow will have to bump up to the 10000 level sometime soon. Perhaps with all the negativity and fear about October, the market will fade all the emotional sentiment and rally through those levels, generally, […]

Key Reversal Trend in Grain Futures

Another head fake in the grains. CZ traded up to 47 then just broke down to the 40 level. Nov Beans remain hemmed in at the 930 level, poking its head up there and then gradually melting down to the 16 to 17 level again…This looks to be a trading range sideways chop, which will give you opportunities if you don’t concentrate on picking tops or bottoms… Look at the ranges, and if they pivot off of the resistance go with the direction of the move.
The Dow and the S7P continue to trade sideways to higher, climbing the wall of pessimism and worry…classic bear […]

Will Soybeans Break 9 Dollars a Bushell?

A little concern about some rain in the forecast, which may slow down harvest, some rumors of corn problems with scattered reports of blight… Also some rumors about yields not being as high as some had thought, all combined to firm up corn today…
Wheat, for the time being, looks technically like it will defend the 450 level. Perhaps, Wheat looks to have the best possibility of a substantial sustained rally, while corn and beans look still as if the crop is large and getting larger, a fact which should cut through the noise and let us concentrate on the fundamentals which point to lower […]

Sleeping Pills for the Grain Market Today?

Trade was pretty quiet today, mostly due to yom kippur. Stock indexes remained higher, especially the NASDAQ. Its currently 230 with a half hour left in the trading day.
Nov Beans were constrained by the 925 level, trading down to 917 but finishing the day down six cents, while both wheat and corn ended the day higher 5 to 6 cents. Some obvious evening up of those respective spreads, corn/beans and wheat/beans..
Stocks look poised to head higher through the end of this month, in anticipation of October volatility… I wouldn’t be surprised to see the Dow approach the 10000 level, allowing speculators the luxury […]

Sell Rosh Hoshanna, Buy Yom Kippur

Pretty Quiet Day since most Jewish individuals are not at work today due to the holiday.
Indexes remain higher on the day,
And in the grains, there has been quiet trade after the opening half hour or so. Nov beans are stuck trading between 920 and 925, Dec corn is 3 cents higher at 337 Dec wheat is higher at 554, Nov beans are 3 cents lower around 921..
Generally, I would advise to do nothing between around 12 and 1245… typically we will set up for one more pop at that point..
Generally, the grains remain a choppy trade now, with good solid […]

Will the age old Adage Hold True?

Sell on Rosh H, buy back on Yom Kippur.. Today is day to buy em back as far as stocks go.. Dow is currently up 100 points so that old adage seems to be paying off in the indexes

As far as grains are concerned, last night saw the typical volatile thin markets.. Nov beans traded up the 37 1/4… then fell off over night…currently at 921 down a nickle, corn is up about penny at 355 and DEC wheat bounced 8 cents and is at 457.
Gold is up about 3 bucks and the US dollar is slightly higher…

As for the grains, there […]

Hedge Funds Own the Overnight Trade Once Again

Surprise Surprise, more volatility and head fakes… After opening and posting early highs or weak short covering left over from last Friday’s sharply lower settlement in Dec Wheat, which saw strength in the beans as an offsetting hedge, the puppet masters have struck once again.. Buy stop worm? Isn’t it interesting how the open saw a ten cent bump in the wheat and beans? just enough to go up and find any rational Short’s stop order? IN any event, Nov beans flirted around the 934 level for a while and then rewarded patient shorts with wide buy stops with a nice 15 cent wash out […]