Tag: cotton 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.

Precious Metal Futures-- The precious metals had one of the best weeks to the upside in quite some time because of statements from Ben Bernanke coming out basically stating he’s going to continue QE3 forever which put the fire under gold prices up 4 days in a row before Friday as profit taking set in down about $3 at 1,277 an ounce after settling last Friday 1,212 now trading at 1,278 above its 20 day moving average but below its 100 day moving average and now has started to form  excellent chart structure with a possible bottom being formed in recent weeks hitting a 3 week high in yesterday’s trade. I have been bearish gold and the precious metals for quite some time but I’m recommending to sit on the sidelines with a possible break out to the upside which is pretty amazing as I’ve been bearish forever but the trend can change very quickly so I’m looking at gold to the upside if it breaks out above 1300. Silver futures for the September contract are right at their 20 day moving average but below their 100 day moving average also at a 3 week high also developing excellent chart structure settling last Friday at 18.73 up around $1.00 this week currently going out around 19.78 an ounce and if you’re looking to get long this market I would buy a futures mini contract and place a stop below the contract low risking around $1500 per contract. 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 today continued its bearish momentum with soybeans for the November contract down another $.21 at 12.30 a bushel as private estimates are starting to come out with 44 bushels per acre which could create a 3.40 billion bushel crop which would be their all-time record crop pressuring the new crop soybeans as the weather has been outstanding in recent weeks. Remember soybeans are trading far below their 20 and 100 day moving average looking to break major support at $12 and in my opinion I do believe prices are headed substantially lower here in the near future as the weather in the Midwest is absolutely astonishing with mild temperatures and constant rain and I believe record crops across the board in the next 3 months are coming. 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 sold off sharply in the new crop grains with November soybeans down $.24 at 12.51 a bushel hitting new 4 week lows as outstanding weather in the Midwest is pressuring prices with the USDA crop report coming out stating that this is the 3rd highest acreage in history at 76.1 million acres up 1% from last year and as I’ve been recommending in many previous blogs to continue to sell the soybeans I do believe prices are headed sharply lower from these levels. Soybean prices in the November contract are trading below their 20 and 100 day moving average settling right at session lows this Friday afternoon in Chicago and I do believe you will see further weakness next week as generally the Fourth of July weekend is the top in the grain market. July soybeans hit a new contract high of 15.74 finishing up about $.16 as the spread between old crop and new crop hit a new high today as supplies are very small in the July contract and could be very large in the November contract in a couple of months. 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 was mixed this week as soybean prices in the November contract settled right near session lows finishing down $.12 at 12.73 and as I’ve written about in many previous blogs I am very bearish the grain sector & I think prices are way over priced with solid weather here in the United States which should produce a record crop along with a very pessimistic commodity market as interest rates are starting to move to the upside very quickly pushing commodity prices sharply lower as well as the S&P 500 which was in a terrific bull market for some quite time but prices are headed lower in my opinion. Corn futures bucked the trend this week settling last Friday at 5.33 up about $.22 trading above their 20 and 100 day moving average right near 4 month highs, however I have been wrong on this trade but I remain extremely bearish corn prices and I think one of these days to come in corn could go limit down across the board as a 2 billion carryover is only 3 months away in my opinion. Wheat futures continued a 14 week consolidation down $.03 with absolutely no trend in sight and I’m waiting for a break out just like what happened in the live cattle contract to the upside as long consolidations in my opinion could be a terrific buy or sell because the trend is generally very powerful after at least a 12 week breakout. 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.

Precious Metal Futures-- The precious metals this week traded in a very tight trading range which is very unusual because these are volatile commodities with gold trading in a 3 week range as exchange traded products were reduced for the 17th consecutive week pressuring prices once again, however this Friday prices rallied about $9 at 1,387 ounce in the August contract. Prices for the week were up very slightly but my opinion I still believe prices are headed lower in gold at this point in time especially with a pessimistic commodity market and very weak dollar which has not propelled prices higher and that has been very concerning if you are bullish because once the dollar starts to rally again you could see some heavy pressure in the gold market coming weeks. Silver futures are still trading below their 20 & 100 day moving average with great chart structure settling last Friday at 21.74 an ounce settling right around $22 this Friday afternoon up slightly for the week but still right near 2 ½ year lows and I’m still recommending a short position due to the fact of terrific chart structure allowing you place a stop at 10 day high which is at 21.75 currently risking around $750 per contract if you trading the mini contract. Continue reading "Weekly Futures Recap W/Mike Seery" →