Trailed the stop loss lower on the Sugar contract. Stopped out of the Corn position for a profit.
This is the kind of volatility you can get when crop stocks are tight and new crop stocks are projected adequate-to-tight. The summer weather volatility can be off the charts. Expect more of the same over the next few weeks. In our latest podcast we go over how to trade, hedge and market in these periods. Make sure you take a listen to this week’s Turner’s Take Podcast!
Still working the order to sell the Sugar contract. Canceled the working order in Corn.
It is June. Old crop stocks are tight. The weather is hot and dry and we have a weather market
Working orders to sell the Sugar and Corn futures contracts.
Soybeans are tight. Corn can go either way. Traders might as well hurry up and wait until a weather market develops
Beyond the Spotlight is a weekly video released on Mondays that spotlights two or three markets that may become trading opportunities for the week ahead. This enables you as a subscriber of the Trade Spotlight advisory service to look ahead with us, while potentially creating additional trading opportunities for yourself. The week’s video linked below… Read more.
Went long the Japanese Yen contract this week.
The USDA will release their May WASDE on Wednesday the 12th at 11am central. The May WASDE tends to be a big report because this is the first time the USDA includes new crop supply and demand tables for new crop. We go over the industry analyst estimates, what that means for prices, and where we could see some surprises. The spec trade is very long, prices are high, and we have a long way to go before this new crop is made.
The Trade Spotlight advisory service consists of three segments covering futures, futures spreads, and commodity options. The commodity markets are analyzed by applying our methodology and recommendations are delivered to you based on our trading philosophy. Our technique is to track specific chat patterns for breakouts and apply key technical indicators to confirm the trade setup.