DTN Morning Comments on Grains

Grains Higher Early Tuesday

Corn futures are higher at 6 a.m. CDT; soybeans higher; wheat higher.
By Darin Newsom DTN Senior Analyst
6:00 a.m. CME Globex: Corn 13 cents higher, soybeans 23 cents higher, and wheat 11 cents higher.
CME Globex Recap: There will be a lot of talk early Tuesday that grains rallied overnight due to lower weekly crop condition reports in corn, soybeans, and spring wheat. However, it needs to be remembered that the seasonal tendency of crop condition numbers is to decrease as crops start to mature. Outside commodities were mostly higher while the U.S. dollar index was lower.

Read More
http://sweetfutures.com/2013/dtn-morning-comments-on-grains-26/

The risk of trading futures and options can be substantial. Trading foreign exchange carries a high degree of risk, and may not be suitable for all investors. All information, publications, and reports, including this specific material, used and distributed by Sweet Futures 1, LLC shall be construed as a solicitation. Sweet Futures 1 does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71. This website contains information obtained from sources believed to be reliable, but its accuracy is not guaranteed by Sweet Futures 1. Past performance is not necessarily indicative of future results.

DTN Morning Comments on Cotton

Cotton Contracts Higher Early Tuesday

Taking its cue from a bullish weekly crop condition report and spillover support from grains, the cotton market showed gains early Tuesday.
By Darin Newsom DTN Senior Analyst
OUTSIDE MARKETS: Cotton contracts on China’s Zhengzhou Exchange were lower. Dow Jones Industrial Average futures were 30 points higher indicating continued buying was likely on the open of US equities trade Tuesday. Crude oil is down $0.39 at $102.75 while gold is up $14.30 at $1,249.20. The U.S. dollar index is 0.165 higher at 84.358. Grain futures are higher early Tuesday morning.
General Comments: The weekly crop condition report released late Monday afternoon resulted in a DTN Cotton Crop Condition Index of 97 points, well off the previous week’s rating of 118 points and last year’s 112 points. Weather remains the key issue in the lower ratings, with forecasts calling for little change. As for crop progress, also released in Monday’s weekly reports, the crop was seen at 51% squaring as compared to the five-year average of 63%, and setting bolls was pegged at 10% as compared to the average of 18%. All of these numbers should be considered bullish for new-crop cotton.
Read More
http://sweetfutures.com/early-word-opening-cotton/

The risk of trading futures and options can be substantial. Trading foreign exchange carries a high degree of risk, and may not be suitable for all investors. All information, publications, and reports, including this specific material, used and distributed by Sweet Futures 1, LLC shall be construed as a solicitation. Sweet Futures 1 does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71. This website contains information obtained from sources believed to be reliable, but its accuracy is not guaranteed by Sweet Futures 1. Past performance is not necessarily indicative of future results.

DTN Morning Comments on Livestock

Hog Contracts Set to Open Moderately Higher

The lean hog pit should start moderately higher, supported by short covering and ideas that Monday’s sell-off was overdone. Expect cattle futures to open on a mixed basis with traders split between residual buying and beef demand nervousness.

By John Harrington DTN Livestock Analyst

Cattle: Steady-$1 LR Futures: mixed Live Equiv $134.91 -$1.20* Hogs: Steady-0.50 HR Futures: 10-30 HR Lean Equiv $114.14 + 0.36** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue

Read More
http://sweetfutures.com/2013/dtn-morning-comments-on-livestock-23/

The risk of trading futures and options can be substantial. Trading foreign exchange carries a high degree of risk, and may not be suitable for all investors. All information, publications, and reports, including this specific material, used and distributed by Sweet Futures 1, LLC shall be construed as a solicitation. Sweet Futures 1 does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71. This website contains information obtained from sources believed to be reliable, but its accuracy is not guaranteed by Sweet Futures 1. Past performance is not necessarily indicative of future results.

DTN Morning Comments on Grains

Grains Post Strong Gains Early Tuesday

Corn futures are higher at 6 a.m. CDT; soybeans higher; wheat higher.
By Darin Newsom DTN Senior Analyst
6:00 a.m. CME Globex: Corn 8 cents higher, soybeans 21 cents higher, and wheat 5 cents higher.
CME Globex Recap: Grains traded higher throughout the overnight session as traders turned their focus to weather forecasts calling for hotter temperatures across much of the U.S. Midwest. Also, all three grains saw follow-through technical buying from increasingly bullish short-term charts. Outside commodities were mixed due to pressure from the continued strength of the U.S. dollar index.

Read More
http://sweetfutures.com/2013/dtn-morning-comments-on-grains-24/

The risk of trading futures and options can be substantial. Trading foreign exchange carries a high degree of risk, and may not be suitable for all investors. All information, publications, and reports, including this specific material, used and distributed by Sweet Futures 1, LLC shall be construed as a solicitation. Sweet Futures 1 does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71. This website contains information obtained from sources believed to be reliable, but its accuracy is not guaranteed by Sweet Futures 1. Past performance is not necessarily indicative of future results.

FX News with Richard Nunes

DXY- 84.348 +.158

EUR- 1.2864 -.0006

TYU3 125-07 -.02

RXU3 142.06 +.12 (Bunds)

SPU3 1640.50 +5.00

VGU3 2657.00 +10.00 (Euro Stoxx)

CLQ3 103.06 -.08 (WTI)

COQ3 107.25 -.17 (Brent)

XAU 1248.54 +11.57

 

Markets;

Asian equity markets were higher as the US earnings season kicked off and Alcoa beat earnings estimates. The MSCI Asia Pacific index was up a strong 1.6% and the Nikkei jumped 2.6% as the yen weakened further. The Kospi was up 0.7%, the Hang Seng +0.5%, and the Shanghai Composite + 0.4% driven by gains in the cement and utilities sectors. The Indian Sensex was up 0.6% the INR rebounded from a record low. Europe equities are mostly higher up 0.4% (Euro Stoxx). The September S&P futures point to a 0.2% gain at the open.

Treasuries are selling off across the curve as 10-year yields have risen 2bp to 2.65% and 30-year yields have increased 1bp to 3.64%. UK gilts have decreased 2bp to 2.46% and German bunds have fallen 1bp to 1.69%.

The dollar is stronger versus a basket of the major currencies. The DXY is up 0.1%.

Commodities are mixed. August WTI crude oil prices are a tad bit lower down 16 cents to $107.25 a barrel. Gold prices have increased $11.57 to $1,248.54 an ounce.

 

 

Read More

http://sweetfutures.com/2013/fx-news-with-richard-nunes-2/ 

The risk of trading futures and options can be substantial. Trading foreign exchange carries a high degree of risk, and may not be suitable for all investors. All information, publications, and reports, including this specific material, used and distributed by Sweet Futures 1, LLC shall be construed as a solicitation. Sweet Futures 1 does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71. This website contains information obtained from sources believed to be reliable, but its accuracy is not guaranteed by Sweet Futures 1. Past performance is not necessarily indicative of future results.

DTN Midday Comments on Grains

Corn Leads Grain Market Higher at Midday

Grain trade is firmer with short covering and export demand helping.
By David Fiala DTN Contributing Analyst
General Comments
The U.S. stock market indices are higher with the DOW futures up 80. The interest rate products are lower. The dollar index is 25 lower. Energies are flat with crude down 0.17. Livestock trade is mixed. Precious metals are higher with gold up $20.
CORN
Corn trade is 4 to 8 higher with support from short covering and export demand. Weather continues to look mostly good for the near term, which will limit gains in the near term. Crop conditions this afternoon are expected to be steady to showing slight improvement. Export inspections slipped to 8.2 million bushels. Nearby support will be at the $4.90 area for now, but another soft finish could trigger a test of the $4.75 area. Basis has started to show signs of firmness again, especially with the crude rally supporting ethanol trade. The USDA will release the July Supply and Demand report next Thursday. The good crop ratings and higher acreage should give us a steady to higher production estimate, tighter old-crop supplies may help offset that giving us a steady carryover number just under 2 billion. The USDA announced 120,000 metric tons of new-crop corn sold to Mexico.

Read More
http://sweetfutures.com/midday-grain-comments/

The risk of trading futures and options can be substantial. Trading foreign exchange carries a high degree of risk, and may not be suitable for all investors. All information, publications, and reports, including this specific material, used and distributed by Sweet Futures 1, LLC shall be construed as a solicitation. Sweet Futures 1 does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71. This website contains information obtained from sources believed to be reliable, but its accuracy is not guaranteed by Sweet Futures 1. Past performance is not necessarily indicative of future results.

DTN Morning Comments on Cotton

Cotton Posts Small Gains

Informa has projected U.S. all-cotton output of 14.107 million bales, sources said. Light cash business sales reported on The Seam.

By Duane Howell DTN Cotton Correspondent
Cotton futures posted small gains Monday as the dollar index took a breather after an earlier rally against a basket of currencies.
Most-active December hovered up 22 points to 85.25 cents at 7:54 a.m. CDT, trading within an 86-point range from 84.63 to 85.49 cents on a contract volume of 1,335 lots.
In outside markets, dollar index futures slipped 0.124 to 84.565, Dow Jones futures gained 62 points and S&P futures rose 7.50 points, crude oil fell $1.01 to $102.21, Brent crude dropped 83 cents to $106.89 and gold gained $19.50 to $1,232.20. Corn, soybeans and wheat were higher.
China’s Zhengzhou cotton futures settled mostly lower, with July down 15 yuan or 0.07% and only September on the plus side at up 45 yuan or 0.22%. Prices were mixed on the China National Cotton Exchange and the China Cotton Index was steady.

Read More:
http://sweetfutures.com/2013/dtn-morning-comments-on-cotton-18/

The risk of trading futures and options can be substantial. Trading foreign exchange carries a high degree of risk, and may not be suitable for all investors. All information, publications, and reports, including this specific material, used and distributed by Sweet Futures 1, LLC shall be construed as a solicitation. Sweet Futures 1 does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71. This website contains information obtained from sources believed to be reliable, but its accuracy is not guaranteed by Sweet Futures 1. Past performance is not necessarily indicative of future results.