Oil prices had its biggest up move of the year, rising 3.3% on lower supply and higher demand. I don’t mean to be so fundamental about the fundamentals, but in truth, that’s why we soared! Oil prices surged even before the American Petroleum Report (API) reported another massive crude oil crude withdrawal. The 10.23-million-barrel draw, […]Continue Reading →
This morning we have June Home Sales at 9:00 A.M., EIA Energy Stocks at 9:30 A.M., Dairy Product Sales at 2:00 P.M., FOMC Meeting and more Earnings. On the Corn front the market is fighting on a lesser percentage of good to excellent rating, weather and carryover from last year. The Grain complex was a […]Continue Reading →
[Myra P. Saefong, MarketWatch] WTI oil settle 3.3% higher Tuesday OPEC members can’t take all the credit for oil’s rally Tuesday, which saw prices score their biggest single-session gain of the year. News of cuts to oil-and-gas exploration spending and signs of a potential slowdown in U.S. output also played roles in the bullish shift […]Continue Reading →
Late last week the headlines rang out “JUICE IS FREE !!!!”. Orange juice immediately dropped 20 cents on that news. OK just kidding folks, that’s just how my warped brain thinks. But remember other OJ, 3 strikes and you’re out.
Metals: Fed inaction on interest rates continues to weaken the US Dollar which has […]
DJ USDA Grain Inspections for Export in Metric Tons – Jul 24 COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION. INFORMATION CONTAINED IN THIS REPORT REFLECTS EXPORTED GRAIN INSPECTED AND WEIGHED THROUGH GIPSA’S AUTHORITY UNDER THE U.S. GRAIN STANDARDS ACT. NO ADDITIONAL ANALYSIS, COMPILATIONS OR DATA IS AVAILABLE. GRAINS INSPECTED AND/OR […]Continue Reading →
COTTON General Comments: Cotton was slightly lower yesterday in consolidation trading. After the close, USDA showed crop deterioration due mostly to bad weather conditions in the Texas Panhandle and into the Southwest and Far West. The market is still trying to complete a bottom on the daily charts. Weather forecasts call for hot and dry […]Continue Reading →
Today we start the day with Consumer Confidence at 9:00 A.M., API Energy Stocks at 3:30 P.M and the FOMC Meeting today and tomorrow. On the Corn front the USDA Crop Progress was not exactly glowing with Corn good to excellent rating down 2% at 62% with Silkings at 67% up 27%. Traders still seem […]Continue Reading →
Oil prices are on the rise as Saudi Arabia pledges to reduce oil exports and the fact that US shale pains are becoming more obvious to the market. Halliburton is warning that the US oil rig count is about to plateau or “peak shale” which we predicted in my recent energy webinar and for an […]Continue Reading →
This morning we start of the week with a weak Grain complex and a higher U.S. dollar. At 9:00 A.M. we have Existing Home Sales followed with Export Inspections at 10:00 A.M., Cold Storage at 2:00 P.M. which could be further bullish news to the Live Hogs and we have Crop Progress at 3:00 P.M. […]Continue Reading →
OPEC and non -OPEC leaders are wrapping up their meeting in St. Petersburg Russia and it looks like it has yielded some positive results. Not only did Nigeria agree to cap their oil production output at 1.8 million barrels a day, the Saudi Oil Minister Khalid al Falih, speaking after the meeting broke up, seemed […]Continue Reading →
General Comments: US markets were mixed as some rains developed in parts of the Dakotas and into Minnesota. Most of the rains were in eastern areas, but some rain was seen in western North Dakota as well. The market tone is more mixed, but the overall weather remains bullish. The weather is good […]
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