Posted by Guy January 12, 2012 ·
February crude oil prices trended lower during the early morning hours, pressured by fresh European funding concerns and weak German growth data. The outside market tone was also weaker, with falling global equity markets and a rally in the US dollar. Meanwhile, there were some fresh supply-side developments overnight out of Iran and Nigeria. An Iranian scientist was killed by a car bomb and Nigeria's [...]
Posted by Guy January 12, 2012 ·
March Soybeans finished down 29 at 1203, 29 off the high and 2 1/2 up from the low. May Soybeans closed down 28 1/2 at 1212 1/2. This was 2 up from the low and 28 1/2 off the high. March Soymeal closed down 9.7 at 312.8. This was 1.2 up from the low and 9.9 off the high. March Soybean Oil finished down 0.61 at 51.89, 0.56 off the high and 0.28 up from the low. March soybeans closed 29 cents lower on [...]
Posted by Guy January 12, 2012 ·
March Wheat finished up 1 1/4 at 641, 3 off the high and 8 3/4 up from the low. July Wheat closed up 2 1/2 at 678. This was 9 1/2 up from the low and 3 off the high. March wheat closed slightly higher on the day after choppy and two-sided trade. A sell-off in the euro currency plus weakness in the other grains helped to pressure wheat early in the session today. Ideas that the US and world ending stocks [...]
Posted by Guy January 12, 2012 ·
Soybean futures ended 17 1/2 to 29 cents lower, with old-crop contracts leading losses. Negative outside markets contributed to today's losses, as the U.S. dollar index posted a fresh weekly high. This limited traders' willingness to extend long positions in risky commodity markets. But futures were also pressured by the rain event in South America and by position squaring ahead of tomorrow's USDA [...]
Posted by Guy January 12, 2012 ·
By Leslie Josephs Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Sharp price swings in the global cotton market could hurt the supply chain of the fiber in the long term, a major industry regulator warned Wednesday. Last March, cotton prices on ICE Futures U.S. surged to a record high of $2.27 a pound but the prices squashed global demand for the fiber and drove prices down 37% in 2011. The effects [...]
Posted by Guy January 11, 2012 ·
March Soybeans finished down 1 at 1232, 5 off the high and 11 1/2 up from the low. May Soybeans closed down 1 at 1241. This was 11 1/4 up from the low and 5 1/4 off the high. March Soymeal closed down 1 at 322.5. This was 2.9 up from the low and 2.0 off the high. March Soybean Oil finished up 0.17 at 52.5, 0.05 off the high and 0.62 up from the low. March soybeans closed slightly lower on the session [...]
Posted by Guy January 11, 2012 ·
March Wheat finished down 2 at 639 3/4, 5 off the high and 5 1/2 up from the low. July Wheat closed down 1 1/4 at 675 1/2. This was 6 3/4 up from the low and 4 off the high. March wheat closed slightly lower on the session with mostly quiet trade. While the outside market forces were strong today with a weaker dollar and sharply higher trade in metal, energy and stock markets, wheat followed the other [...]
Posted by Guy January 11, 2012 ·
March Corn finished unchanged at 652, 5 1/2 off the high and 4 up from the low. May Corn closed down 1/4 at 659 1/4. This was 3 3/4 up from the low and 5 1/2 off the high. March corn closed unchanged on the session after choppy and two-sided trade. Support emerged on the early break and the market managed to trade slightly higher on the session into the mid-day. Ideas that more damage was down to the [...]
Posted by Guy January 11, 2012 ·
February cattle closed 62 lower on the session and pushed down to the lowest level since December 21st. This caused the market to close down 112 points for the week. The market traded moderately lower on the session early today. A recovery in the US stock market to trade higher on the day after the early weakness, better economic news and ideas that supply will dwindle in the weeks just ahead helped [...]
Posted by Guy January 11, 2012 ·
Compiled 01/11/12 6:00 AM (CT) Statistics: London Gold Fix $1,641.00 +$14.00 LME Copper Stocks 365,375 tons -1,525 tons SILVER MARKET FUNDAMENTALS: (6:00 AM CT) Unlike gold, March silver remains significantly below its 200 day moving average this morning. Furthermore, while gold managed another higher high overnight, March silver wasn't able to forge a fresh upside breakout this morning. At least in [...]
