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Upcoming Reports Make Traders Seem Uneasy – March 29, 2012 - INTL FCStone Blog
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International Assets Holding Corporation > INTL FCStone Blog > Posts > Upcoming Reports Make Traders Seem Uneasy – March 29, 2012
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The risk of loss in trading commodities can be substantial and FCStone, LLC assumes no liability for the use of any information contained herein. Past performance is not necessarily indicative of future results. Neither the information, nor any opinion expressed shall be construed as an offer to buy or sell any futures or options on futures contracts. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. Reproduction without authorization is forbidden. All rights reserved. |
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| Upcoming Reports Make Traders Seem Uneasy – March 29, 2012 | 3/29/2012 8:37 AM | | WHEAT: LOWER Yesterday’s nine cent loss took its negative sentiment into the overnight where another two cents were taken out of the market. This morning, traders seem uneasy about the upcoming reports tomorrow (USDA at 7:30am, CFTC at 2:30pm). The bears feel like grain stocks and planting intentions will turn in their favor. Our forecasters have been looking closely at overnight temperatures for the next two weeks. It appears the current above-normal weather trend should hold even as we move through Easter. This is very important, as we all know what a cold streak could do to an early maturing crop. Last night, Taiwan and Egypt both bought U.S. wheat for May delivery (42K tonnes, 60K tonnes, respectively). Today should continue the down short term trend in wheat as we await tomorrows reports. Outside markets are again unsupportive. Kyle Smith, Mike O'Dea, Ben Parks, Collin Hulse, Ingrid Gronlund |
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