Currently viewing the tag: "Softs"

Morning Softs 8/27/14

On August 27, 2014 - 10:09 AM By

COTTON General Comments: Futures closed higher as new systems formed in the Gulf of Mexico and the Atlantic that could threaten crops with a lot of rain now that bolls are open. The new system could bring winds and rains to the state, but the forecast is very preliminary and much needs to be done [...]

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Financials: Sept. Bonds are currently 10 higher at 140’27, 10 Yr. Notes 6 higher at 126’07.5 and 5 Yr. Notes 3.5 higher at 119’18.5. Bonds continue to out pace shorter term treasuries and coming close to the yearly high of 141’21 which we will use as a resistance level to trade from the short side [...]

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Morning Softs 8/26/14

On August 26, 2014 - 9:23 AM By

COTTON General Comments: Futures closed mostly higher in quiet trading. Crop conditions and progress remain generally good, and traders keep worrying about the demand side. A tropical system has moved east into the Atlantic and poses no threats for Cotton. There are no other systems of note to talk about, and traders report little stress [...]

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Morning Softs 8/25/14

On August 25, 2014 - 10:57 AM By

COTTON General Comments: Futures closed higher in quiet trading. Support came from forecasts for hot and dry weather to continue over the next few days in West Texas that could stress crops. Crop conditions dropped a Little last week in the USDA reports and could drop again this week. A tropical system has formed near [...]

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Financials: Sept. Bonds are currently 6 higher at 140’20, 10 Yr. Notes1 higher at 125’30 and the 5 Yr. Note fractionally lower at 119’13.2. Last week we licked our wounds and took the loss on the long 10 Yr./short Bond spread in the 13’20 premium the Bonds. The spread is currently trading at 14’22 premium [...]

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Morning Softs 8/22/14

On August 22, 2014 - 9:25 AM By

COTTON General Comments: Futures closed higher in nearby months and slightly lower in deferred months. The export sales report was called negative, but October rallies on tight supplies available in the short term. Further Support came from forecasts for hot and dry weather to develop over the next few days in West Texas that could [...]

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Morning Softs 8/21/14

On August 21, 2014 - 9:36 AM By

COTTON General Comments: Futures closed higher on follow through buying as USDA showed a bigger drop in crop condition rating tan had been expected by the trade. Traders had expected USDA to show about unchanged ratings. Further Support came from forecasts for hot and dry weather to develop over the next few days in West [...]

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Morning Softs 8/20/14

On August 20, 2014 - 9:16 AM By

COTTON General Comments: Futures closed slightly higher as USDA showed a bigger drop in crop condition rating tan had been expected by the trade. Traders had exp3cted USDA to show about unchanged ratings. However, USDA showed that the condition of the crop dropped in the last week, although overall ratings remain good to very good. [...]

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Financials: Sept. Bonds are currently 2 higher at 139’27, 10 Yr. Notes unchanged at 126’07 and 5 Yr. Notes 1 lower at 119’25. I am using this break to take a loss on current long 10 Yr./short Bond spreads in the 13’20 area (theoretical loss of about $1,250.00). I’m still short biased the interest rate [...]

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Morning Softs 8/19/14

On August 19, 2014 - 9:10 AM By

COTTON General Comments: Futures closed lower again yesterday as the trade anticipated good crop condition ratings from USDA. However, USDA showed that the condition of the crop dropped in the last week. The market remains in a short term trading range. Charts show that prices could easily move lower in the short term and buyers [...]

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I’m sure most of you have heard by now of the new “Ice Bucket Challenge” sweeping the nation. This is where various celebrities pour a huge bucket of ice water over their head to collect donations for charity, most notably ALS or “Lou Gehrig” disease. So I decided to do my bit for charity and [...]

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Morning Softs 8/18/14

On August 18, 2014 - 12:16 PM By

COTTON General Comments: Futures closed slightly lower again Friday in consolidation trading. The market remains in a short term trading range. Ideas are that consumptive demand should increase with the current weak prices. However, charts show that prices could easily move lower in the short term and buyers feel no reason to step out and [...]

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