Tag: Corn futures

Weekly Futures Recap w/Mike Seery

Posted on by The INO.com Team

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Cotton Futures-- Cotton futures for the December contract settled last Friday at 87.18 finishing down nearly 400 points this week with all the damage being done on Mondays trade as the tropical storm which was expected to possibly hurt the cotton crop pushing prices higher but the storm amounted to very little sending prices on Monday down 300 points as harvest continues here in the United States with poor chart structure at this time. The trend in cotton now is to the downside trading below its 20 & 100 day moving average; however the 10 day high is too far away right now so I’m advising traders to sit on the sidelines and wait for some better chart structure to develop as the commodity markets have turned negative in my opinion. The grain market continues to weaken and that also could put some pressure on cotton prices in the short term. TREND: LOWER –CHART STRUCTURE: TERRIBLE Continue reading "Weekly Futures Recap w/Mike Seery" →

Weekly Futures Recap w/Mike Seery

Posted on by The INO.com Team

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Cotton Futures-- Cotton futures in New York this week continued their bullish trend settling last Friday at 86.63 going out this Friday at 87.47 about 85 points higher hitting a 6 week high and still trading above its 20 and 100 day moving average which I consider a bullish technical indicator. I have been recommending buying cotton futures in the December contract last Friday when it broke out above 85.80 but cotton is very large contract with heavy risk so trade only 1 contract while placing a stop below the 10 day low at 84.07 risking around $800 per contract at the time if you are wrong and the trend changes to the downside. The chart structure in cotton is excellent at this point which has allowed you to place a tight stop if you’re looking to get involved into this market, however traders are keeping an eye on next week’s crop report which definitely will have an impact on short-term price direction as I still do believe cotton prices will fill that gap at 89 in the coming weeks possibly if next week’s report is very bullish. TREND: HIGHER –CHART STRUCTURE: EXCELLENT Continue reading "Weekly Futures Recap w/Mike Seery" →

Weekly Futures Recap w/Mike Seery

Posted on by The INO.com Team

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Grain Futures--- The grain market settled mixed this week in Chicago as traders are anticipating a major report on September 30th which is this Monday at 11 o’clock central time showing where carryover levels currently stand and the last several reports  have been big price movers as carryovers fluctuate tremendously with soybeans finishing up $.03 this Friday afternoon settling at 13.20 basically unchanged for the trading week with the carryover level estimated at 125 million bushels consolidating this week after a $.70 hair cut in last week’s trade. Continue reading "Weekly Futures Recap w/Mike Seery" →

Weekly Futures Recap w/Mike Seery

Posted on by The INO.com Team

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Gold Futures--- Gold futures in the December contract had one of the most volatile and crazy trading weeks that I can remember finishing this Friday afternoon down $35 at 1,333 an ounce after settling last Friday at 1,308  rallying on the concept that the Federal Reserve will not taper bond purchases which sent many of the commodity markets sharply higher including gold on Wednesday afternoon, however reality has set in as Goldman Sachs came out stating that they believe the Federal Reserve will start tapering in December which put a lot of pressure on many commodities including the stock market today. I have been advising traders to sit on the sidelines in the gold market & I still think gold looks relatively weak closing right on session lows today as the bond purchasing in my opinion is overrated. The trend in gold is lower at this point but wait for better chart structure to develop before looking to enter into this market as volatility is too high. The U.S dollar hit an 8 month low which also propelled gold prices higher on Wednesday as the Federal government continues to try & support asset prices and it also continues to try to devalue the U.S dollar which is generally bullish commodity prices, however money seems to the flowing back into the S&P 500 as prices are hitting all-time highs while taking money out of gold market. TREND: LOWER –CHART STRUCTURE: POOR Continue reading "Weekly Futures Recap w/Mike Seery" →

Weekly Futures Recap w/Mike Seery

Posted on by The INO.com Team

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Soybean Futures-- Soybean futures had a wild trading week ending lower by $.13 this Friday at 13.83 but having a very bullish USDA crop report despite the fact that we are going to have the 4th largest crop in U.S history, but the carryover level dropped from 220 bushels all way down to 150 million bushels which now means the carryover in soybeans is tight again which should keep prices high for quite some time. We thought the carryover number was going to be 295 million bushels earlier in the summer and that’s how much this figure has dropped and if you go into the next report with possibly an even lower crop than 3.14 billion bushels and a carryover of 100 million prices could really move to the upside in my opinion. The grain complex in general is still in a bearish trend except for soybeans as the spread price between corn and soybeans is right near record levels as there is still huge demand for soybeans and I wonder what the next crop report is going to say as this was a disappointing crop year in my opinion. This year’s crop is only 3% higher than last year’s drought stricken crop which is amazing in my opinion but we just had too many bad things happen this year with cool & wet weather and then hot & dry with a very sporadic weather pattern causing the poor crop this year as now we start to enter Brazil’s planting season which is expected to be another record crop. TREND: HIGHER –CHART STRUCTURE: IMPROVING Continue reading "Weekly Futures Recap w/Mike Seery" →