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"
