Agriculture

Cocoa Futures Setting Up For A Tactical Bounce Higher

If you’re on the sidelines in the equity market, or don’t necessarily have much conviction long or short at current levels, Cocoa futures may be the non-correlated trade setup you’re looking for. There’s no clear edge in terms of sentiment or seasonality, but the price action suggests that a tactical…

9 Market Themes To Watch Heading Into 2016

First of all, I want to say that the purpose of this post is not to make predictions about the future, so if you’re expecting a 12-month price target for the S&P 500, you’ll want to look elsewhere. Throughout this exercise I used the weight of evidence present in markets…

Soybeans Mean Reversion Has Bullish Traders Looking Up

The presence of flat 200 day moving averages throughout many of the US Stock Market Indices and sectors, combined with a few other factors, is causing me to maintain a neutral stance toward equities for the time being. Luckily, as a technician I can take advantage of opportunities in other…

U.S. Corn Weekly Review: Can Futures Rally Back To $4.00?

Corn futures moved sideways to slightly higher this week; however that wasn’t much consolation for Corn Bulls with CZ5 still trading within approximately a dime of the current contract low of $3.56. The story about beaten down corn prices has been by now well-rehearsed and regurgitated by nearly all market…

US Soybeans Weekly Review: January Futures Hit 6 Year Lows

January soybean futures ended the week lower, closing down 7 ¾-cents per bushel on Friday afternoon finishing at $8.55 ¼. That close was within 5 ¼-cents of the current contract low in SF6 of $8.50, which was established on 11/10. The soybean market turned aggressively lower on Tuesday following the…

US Corn Weekly Review: Futures Weigh Bearish Headwinds

December corn futures continued to trade in a very narrow range this week with values consolidating between approximately $3.80 and $3.70 per bushel. The 35-day moving average ($3.825) in particular has acted as the major area of price resistance on recovery attempts and has remained resistance since December corn futures (CZ5)…

Coffee Futures Decline: Key Support Levels To Watch

I started covering the potential bottom in Coffee futures in late September. That initial post likely came at a very bearish time for sentiment). Coffee was beaten down, but the math for identifying the price pattern said it was worth a shot. And after holding and forming a bottom, coffee…

Coffee Futures Look Bullish, But A Pullback Is Nearing

Coffee futures have seen a nice rally higher. And although the wave formation is bullish, the rally may be ready for a pullback. A couple weeks back I wrote about why coffee futures are setting up for a nice rally. Here’s an excerpt: Based on the big gap up last week and the…

US Corn Weekly Review: Yield Concerns Hit Corn Futures

There’s a lot to cover in the US Corn and Soybeans markets so let’s dig in. WEEKLY PRICING SUMMARY: December corn futures sold off aggressively on Friday afternoon closing down 8 ½-cents per bushel on the day at $3.82 ¾. Week-on-week CZ5 finished down 6 ½-cents versus last Friday’s close…

US Corn And Soybeans Weekly Review: Seasonality Insights

It was an extremely quiet week for both corn prices and soybeans prices. December corn futures closed Friday at $3.89 ¼, up just a ¼-cent per bushel week-on-week. CZ5 did manage to close over the 100-day moving average at $3.884; however it was far from convincing. November soybeans finished at…