News Archive

Friday Sell Off in the Grain Complex?

November beans indeed snapped below the 900 level, traded to a low of 895 1/2 and perhaps is now looking for a snap back higher, temporarily…I would be a buyer here with a stop market below.

It looks as if the stock indexes over did it this morning on the down side, with both the Dec Dow and S&Ps having a bounce rally off of their multi week low prints which came out this morning after the unemployment numbers were released. These markets are at the mercy of the puppet masters, the large funds with plenty of money to push the futures markets around, looking […]

Do the Large Trading Funds Control These Futures Markets?

Ok, so once again, this price action looks kind of iffy. A week ago, on Sep 24th, the Dec Dow contract had a high print of 9866, 140 pts away from the 10000 level..The SPZ had a high at 1075… today the Dec Dow printed a low of 9336 and the SPZ printed 1011, lol… over 60 handles in the SPZ and over 500 pts in the Dow..
Granted, this has been after a 6 month rally, but this price action shows how the markets go down 3 times as fast as when they go up.. This rule seems to hold true for all markets […]

Have we seen this year’s High in the S&P?

Just wondering how secure the jobs data is… I find it interesting that Thursday before the report, stock indexes move sharply lower and low and behold there is a worse than expected jobs report. The Dow is around 450pts lower from its recent highs, and the s&ps are also sharply lower.

Is this a natural correction after a 57 percent run up? yes, but I just have to question the timing and the market action which preceded today’s action.
I imagine all the markets will be lower across the board in sympathy with this action.

Overall, it will have an initially bearish tone to the […]

10% Unemployment or 17%— Which is it?

For years when the bond futures pits actually had live traders doing price discovery through open outcry, many large traders would only show up for the monthly unemployment day. Generally the bonds would break or rally violently usually a point or a point and a half depending on that number. There truly was nothing like standing in that pit or in that room at 7:29:55 right before the number was released.

A palpable feeling of anticipation, like waiting for a tidal wave to ride if you were a surfer… trade skillfully and you had a great opportunity.. trade stupidly, and you’d wonder how long you […]

Another October Correction?

Currently 225 pm CST, All the grains were in the red today, as we saw sympathetic moves with the outside markets… the Dow is below 9500, the spoos are down 20 handles at the 1030 level, gold is back below 1000 bucks and silver is down around 16.50, the only higher market is crude, hanging in there above the 70 dollar level, mostly due to yesterday’s surprising gas stocks shortfall.
So over all a day for the bears….

I honestly was surprised, after yesterday’s bullish bounce in the stock […]

Short Term Grain Move

November beans tried to rally, fell below the 935 level and have moved sharply lower below the 918 level…Dec Corn is below 340 and Dec Wheat is below 450.. Yesterday’s bounce up looks to have been short covering driven, and more of a technical bounce in the face of the fundamentals.’
Also we are watching the outside markets pull us down. Dow is looking like it will pierce the 9500 level… and the s&p’s are 18 handles lower at 1033…. Looks like a flush lower momentum could weigh across the board today.

Will the Dollar Hold Up against other Currencies?

Yesterday saw strong rally led by a drop in the dollar on a correction, a strong rally in the crude, fueled by a surprising drop in gasoline supply on hand, which fueled a rally in the grains led by soy oil. We also saw a nice short covering rally in the wheat at the end of the day as longer term shorts covered losing positions and forced Dec wheat above the key 450 level on the charts.

We had a nice intra day rally in stocks, and even though the indexes settled lower we recovered most of the earlier day’s losses.
As we speak, the […]

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 […]