[Daniel J. Graeber, UPI] Crude oil prices continued to test new highs in Monday trading, supported by a growing consensus that OPEC will extend a production cut agreement in November. The price for Brent crude oil touched $60 per barrel on Friday, for the first time in years, as rhetoric pointed to a decision by […]Continue Reading →
Tomorrow, Tuesday, Oct 31st is the First Notice Day for the Nov Grains (Soybeans, mini-Soybeans, Rice, Ethanol and Canola). It is also the First Notice Day for ALL the November Metals (as listed above). Anyone LONG either the Nov Grains and/or Metals that morning will be at risk of taking delivery. To avoid this risk, […]Continue Reading →
General Comments: Wheat closed lower on further strength in the US Dollar and worries about export demand overall. Futures closed with slight gains for the week, but the price action in the second half of the week was not strong and implied more selling is possible this week. Funds were sellers once again. […]
General Comments: Cotton was near unchanged. It senses that there is a lot of Cotton to sell and the sharp rally in the US Dollar hurt demand ideas in a big way. The Texas weather could get cold enough to freeze the crops and some Cotton could be lost. Mature Cotton would not […]
Weather has not been conducive to this harvest lately but we should have a good week to get the farmers back in the field. In the overnight electronic session the December Corn is currently trading at 348 ¾ which is unchanged. The trading range has been 349 ¾ to 348 ¼. This market is looking […]Continue Reading →
While many in the oil industry have been talking about lower for longer oil price the truth is that oil prices will not stay low for very much longer. Oil has confirmed that the market may have put in the most significant bottom in oil prices since 1999 after it posted its best quarter since […]Continue Reading →
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