General Comments: Wheat closed little changed despite lower crop condition ratings from USDA Spring Wheat was able to keep its price rally going due to the slow planting of the crop and on forecasts for more rain in Canada through the weekend. But, ideas of better weather in the forecast kept any rally […]
General Comments: Cotton was mostly a little lower in uninspired trading. Nothing has changed much for Future traders in the short term. The charts show July remains in the previous trading range and that December is testing support inside of the trading range. Trends are sideways or down. Cotton availability […]
Financials: Sep. Bonds are currently 12 lower at 153’14, 10 Yr. Notes 4 lower at 126’05.5 and the 5 Yr. Notes 2.5 lower at 118’07.5. As of this writing the trade is expecting an increase of 180,000 jobs for non-farm payrolls for tomorrows Jobs Report. We have patiently been on the sidelines awaiting an opportunity […]Continue Reading →
If you look at data from the American Petroleum Institute (API) you will see that it is obvious that OPEC/non-OPEC production cuts are starting to have an impact on U.S. oil inventory. The API not only reported a whopping 8.67-million-barrel drawdown in oil inventory last week, they also reported that over the last 5 weeks […]Continue Reading →
Finally more seasonable weather but including more unwanted rain. We have several reports kicking off the month with Initial Jobless Claims at 7:30 A.M. Construction Spending and ISM Manufacturing Index at 9:00 A.M. EIA Gas Storage at 9:30 A.M followed with EIA Energy Stocks at 10:00 A.M. and at 2:00 P.M. we have Cotton System, […]Continue Reading →
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