It figures that just when it appeared as if positive equity market action and significant weakness in US Treasuries were about to confirm growth in the US economy, the US economic numbers turned sour.
Not surprisingly, the US Fed moved to hike interest rates last week, but the markets were somewhat surprised by the hint of three possible rate hikes in 2017.
There is a trade opportunity based on a Trend Line breakout today in the Soybean Meal futures market.
This weekly feature examines chart formations, along with technical indicators, of two to three commodity markets. Breakouts of these formations may lead to trading recommendations published by the Trade Spotlight advisory service.
There is a trade opportunity based on a potential Momentum Entry Technique breakout in the Soybean Meal market.
PODCAST: Here is the link to our latest Inside Commodity Futures podcast that John Payne and I just recorded. We take an in-depth look at the corn, soybean, wheat, and grain spread markets. Click here for Inside Commodity Futures TWITTER | Follow me on twitter @Turners_Take for intraday grain market observations https://twitter.com/turners_take WHEAT | The… Read more.
Podcast | John Payne and I put out a new Inside Commodity Futures podcast today. Take a listen to our thoughts on Monday’s crop progress/planting report, grain futures spreads, the upcoming WASDE on Friday, and much more. Click here for INSIDE COMMODITY FUTURES TWITTER | I’ve been a lot more active on twitter lately and… Read more.
PODCAST | John Payne and I recorded a new Inside Commodity Futures podcast today. Take a listen to hear our thoughts on soybeans, meal, corn and wheat. Next week we will review expectations for the WASDE and what to look for INSIDE COMMODITY FUTURES | July Soybeans Trade $11.00 TWITTER | I have been more… Read more.
Meal continues to lead the market higher. This whole Soybean and Soybean Meal story over the past two months has its roots in the production issues in South America. Both Brazil and Argentina have had production cuts due to poor weather. That loss in production in South America leads to more demand in the US.… Read more.
2 markets to be watching…be ready to get involved!