TraderPlanet.com :: Commentaries tagged (soybeans)

Grain Market Analysis

JimWyckoff, TraderPlanet.com — Wed, 08 Feb 2012 12:45:53 +0000

March corn futures closed down 2 cents at $6.42 1/4 yesterday. Prices closed near mid-range yesterday. Losses were limited by bhe key "outside markets" turning bullish for corn yesterday, as the U.S. dollar index weakened and crude oil prices rallied around mid-morning. Corn bulls and bears are on a level near-term technical playing field. Traders are awaiting Thursday morning's USDA world supply and demand report. Corn bulls' next upside price breakout objective is to push and close prices a...

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Upbeat Expectations 2/3/12

mbwealth, TraderPlanet.com — Fri, 03 Feb 2012 22:32:17 +0000

A positive jobs number and things heating up in Iran and Crude is back on the move advancing 1.5% today. We may see a bounce but until we see a trade back over $99 I still am thinking prices have more downward pressure. My target in March is a trade closer to $93-94 in the coming weeks.

What is disturbing though is the disparity between the Crude daily chart and the distillates as Crude is on the lower end of the recent trading range while heating oil and RBOB are breaking out to new highs. I...

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Not the End 2/1/12

mbwealth, TraderPlanet.com — Wed, 01 Feb 2012 21:22:17 +0000

With a more positive outlook domestically and abroad expect commodities that had previously factored in a more dire picture to get back losses from late 2011.

Today makes it five days in row with Crude down just over 1% as of this post trading at six week lows. A close below $98.30 in March should signal lower ground. $99 should cap further upside and I could see prices drifting back under $94 in the coming weeks. Both RBOB and heating oil are having trouble keeping their heads above water as...

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Grain Market Analysis

JimWyckoff, TraderPlanet.com — Wed, 01 Feb 2012 12:44:30 +0000

March corn futures closed up 7 3/4 cents at $6.39 1/2 yesterday. Prices closed nearer the session high yesterday. Corn bulls and bears are back on a level near-term technical playing field. A bullish pennant pattern has formed on the daily bar chart. Corn bulls' next upside price breakout objective is to push and close prices above solid technical resistance at $6.50. The next downside price breakout objective for the bears is pushing and closing prices below psychological support at $6.00. F...

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If Equities Fall 1/30/12

mbwealth, TraderPlanet.com — Mon, 30 Jan 2012 21:31:36 +0000

Over the next few sessions we will know but we may see some gains given back in equities as minor chart damage is being done. That being said expect higher trade in Treasuries and commodities on a stock retraction.

Crude continues to flirt with $100 unable to pick a direction. The longer this consolidation pattern continues the larger the breakout the tough part is determining what direction will prices breakout. A settlement above $100.50 or below $98 would likely signal the direction but un...

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Grain Market Analysis

JimWyckoff, TraderPlanet.com — Tue, 24 Jan 2012 12:38:46 +0000

March corn futures closed up 8 1/2 cents at $6.20 yesterday. Prices closed nearer the session high yesterday and saw more short covering in a bear market. The key "outside markets" were bullish for the corn market yesterday, as the U.S. dollar index was lower and crude oil prices were higher. Some bargain-hunting buying has also occurred recently. And, South American corn-growing regions still need rain. Corn bears do still have the overall near-term technical advantage, but the bulls are gai...

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Protected: The Line in the Sand January 23, 2012

mbwealth, TraderPlanet.com — Sun, 22 Jan 2012 17:38:46 +0000

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A Straight Lineâ€¦ 1/19/12

mbwealth, TraderPlanet.com — Thu, 19 Jan 2012 22:15:28 +0000

Nothing included markets move in a straight line...stocks will not move higher in a straight line nor will natural gas move lower...all things must come to an end.

I am still in a holding pattern waiting for direction in Crude oil. We're still experiencing a tug of war in the distillates as RBOB was lower today and heating oil was higher...the reverse of previous sessions.

Natural gas was lower by 7% today making it 21% already in 2012..a rocky start! The reality is I still do not see signs ...

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