TraderPlanet.com :: Commentaries tagged (wheat)

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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True Commodity Play 2/6/12

mbwealth, TraderPlanet.com — Mon, 06 Feb 2012 21:53:50 +0000

After speaking with several prospective commodity clients today I want investors to recognize that by trading etf's or buying stocks in a commodity sector you are not trading commodities. That being said commodity trading is not appropriate for most investors but those financially suitable with some risk tolerance should explore futures, options and managed futures as a pure commodity play. Come on guys you buy your wife diamonds not cubic zirconia right? Crude oil lost ground today but the s...

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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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Taking a Breath 1/25/12

mbwealth, TraderPlanet.com — Wed, 25 Jan 2012 20:46:01 +0000

I misread the recent action thinking we were approaching a turning point but now it appear the markets were just taking a breath and now the underlying moves are back on track....trade accordingly. Crude appears to be finding its footing as further sales are being rejected. With a settlement back above $100 I would become more friendly. On a close above $102 in March I then would be looking for buying opportunities thinking we get a new high...trade accordingly. I say a bottom is in on natura...

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Turning Point 1/24/12

mbwealth, TraderPlanet.com — Tue, 24 Jan 2012 22:08:15 +0000

Turing point...not today and probably not tomorrow but I would expect the equity market to give back its recent gains in the very near future. What that likely means is money out of stocks and into Treasuries and commodities...just an opinion. Crude remains in no man's land as prices could go either way in my opinion. My bias is leaning to the bullish side but I would prefer to be buyer on breaks. For instance I see solid support in March just under $94/barrel so long entries closer to that l...

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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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Looking Ahead 1/23/12

mbwealth, TraderPlanet.com — Mon, 23 Jan 2012 21:06:24 +0000

Fed meeting this week as well as any new developments out of Europe. My suggestion is to always look one-two weeks in advance for upcoming economic events when initiating trades. Just when it appears Crude was destined to move lower prices reversed finishing 1.65% higher today. $1oo appears to be a magnet for pricing and until we get $3-4 north or south of that level expect sideways action to continue. I do not feel comfortable trading either side currently. A 9% appreciation in natural gas a...

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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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