Comments for Monday, September 27, 2010
Looking Ahead to Today by Reflecting Back at Friday’s Price Action
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors.
Higher closes last Friday for oats, rough rice, corn soybeans, soymeal and soyoil while lower for Minneapolis, Kansas City and Chicago wheat. All of the wheat continue to look higher overall but Minneapolis and KC are looking a little toppy while Chicago has been consolidating in a trading range since early August as seen below. Oats and rice settled higher this time with rice making its best high and close since late April. Rice continues to look strong and now maybe oats will test its recent highs. Corn made its best high and close since October 1st 2008 fueled by talk of lower than expected yields. The bean complex had a strong close with beans and meal making their best highs and closes since September 2008 and oil since October 2009. BUY SIGNALS FOR MINNEAPOLIS, KANSAS CITY AND CHICAGO WHEAT ALONG WITH OATS, ROUGH RICE, SOYBEANS, SOYMEAL
Is open-outcry going away? Do you know exactly how much futures trading is executed on electronic platforms like Globex? Download my Trading Volume report at http://www.zaner.com/3.0/ralexVolume.asp (or copy & paste this link into your browser).
Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at email@example.com.
The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.