November 28, 2010

Wheat, Corn and Soybean Complex Market Recap Report for 07-26-10

By Planet Wealth

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pstrongCorn Market Analysis for 7/26/2010/strong/p
pSeptember Corn finished down 7 1/4 at 364, 7 3/4 off the high and 2 1/4 up from the low. December Corn closed down 6 1/2 at 378. This was 2 1/4 up from the low and 7 1/2 off the high./p
pDecember corn went below its 100-day moving average overnight for the second trading session in a row before extending its losses into the day session. This was followed by another minor new low for the day in early afternoon. December corn traded at its lowest level since July 1st today with traders crediting the losses to an improved weather outlook for the US corn crop. This included thoughts that last weeks weather was more favorable than initially expected, and traders are looking for todays Crop Progress report from the USDA to show the excellent-to-brilliant quality rating of the US corn crop to be unchanged to slightly higher than last week. Last weeks excellent-to-brilliant rating was 72%. This weeks export inspections for corn were 42.421 million bushels, up from 40.760 million last week. Inspections need to average 50.785 million bushels each week for the remainder of the 2009/10 crop marketing year in order to meet the USDAs current export projection./p
pSeptember Rice finished down 0.105 at 10.17, 0.13 off the high and equal to the low./p
pstrongWheat Market /strongstrongAnalysis /strongstrongReport for 7/26/2010 /strong/p
pSeptember Wheat finished down 6 3/4 at 589 1/2, 6 3/4 off the high and 5 up from the low. December Wheat closed down 6 1/4 at 621. This was 5 1/4 up from the low and 6 off the high./p
pDecember wheat traded lower today following a lower start in Europe. Traders said that the negative weather situation in Europe and the Black Sea region remains in place with the exception of cooler weather in Kazakhstan, but one analyst noted that this is no longer fresh news. Traders said that the lower start in Europe generated profit taking in Chicago, but they noted that losses may have been limited today by a lower dollar. Chicago wheat lost ground to KC wheat in the December contracts today, but Chicago mainly kept pace with losses in the December Minneapolis contract. This weeks export inspections for wheat were 15.409 million bushels, down from 23.512 million last week. Inspections need to average 19.491 million bushels each week to reach the USDAs export projection for the 2010/11 marketing year./p
pDecember Oats closed down 2 1/2 at 262 1/4. This was 5 3/4 up from the low and 4 1/4 off the high./p
pstrongSoybean Complex Market /strongstrongCommentary /strongstrongfor 7/26/2010 /strong/p
pAugust Soybeans finished down 18 3/4 at 998 1/4, 17 1/4 off the high and 4 up from the low. November Soybeans closed down 15 1/2 at 966. This was 5 up from the low and 15 3/4 off the high./p
pAugust Soymeal closed down 6.7 at 293.2. This was 1.4 up from the low and 6.4 off the high./p
pAugust Soybean Oil finished down 0.27 at 38.8, 0.39 off the high and 0.13 up from the low./p
pNovember soybeans closed sharply lower on the session and closed at the lowest level since July 14th as a less threatening weather outlook and talk of steady to improving crop conditions helped to pressure. Meal also traded substantially lower on the day, posting a significant loss versus soybean oil in the process. Traders said that todays weakness stemmed from a favorable weather forecast and thoughts that the US soybean crop may have remained steady or slightly improved in quality over the past week. Last weeks excellent-to-brilliant rating in soybeans stood at 67%. Traders noted that the market shrugged of potential support from a lower dollar and a fresh sale of soybeans to China. The USDA announced this morning that 226,000 tonnes of US soybeans were sold to China for delivery during the 2010/11 crop marketing year. This weeks export inspections for soybeans were 6.595 million bushels, down from 9.667 million last week. Inspections need to average 12.105 million bushels each week to reach the USDAs export projection for the current marketing year./p
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pAfter readingnbsp;ï#187;#191;todays aï#187;#191;nï#187;#191;aï#187;#191;lï#187;#191;yï#187;#191;sï#187;#191;iï#187;#191;sï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;ï#187;#191;,ï#187;#191;ï#187;#191;ï#187;#191;traders might want to take a peek at the commercial traders momentum.nbsp;nbsp;The Commercial Trader momentum can be tracked by using the Commodity Futures Trading Commission a href=http://cotsignals.com/ target=_blankCommitment of Tradersnbsp;/areports.nbsp; Our thought is that, in a value driven commodity futures market no one knows honest value like the people who produce it or, have tonbsp;use it.nbsp; In fact, it is preciselynbsp;their sense of value that provides the commodity markets rhythmic meanderings that swing traders like so much.nbsp; Lets face it, producers know when their product is overvalue and it should be sold just as well as end line users know when they should be stocking up at low prices.nbsp; Therefore, tradernbsp;should be able to incorporate this valuable information into their a href=http://commodityandderivativeadv.com/services/systemsfuture market education./a/p
pThe daily commentaries provide a summarynbsp;of any reports released that day, a recap of each commoditys traded price activity, an analysis of the factors that influenced price activity, and a look ahead at the next days schedule.nbsp;nbsp;Market commentaries for corn, wheat, soybeans,nbsp;silver and gold are provided by CME Group.nbsp;nbsp; The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the buy or sale of any futures or options contracts./p
pAndynbsp;Waldocknbsp;publishes this blog.nbsp;nbsp;Andy Waldock is a financial advisor, analyst, broker, asset manager and traderfor Commodity amp; Derivative Advisors, located in Sandusky, Ohio.nbsp; Therefore, Andy Waldock may have positions for himself, his customers, or his family in any commodity future market discussed.nbsp;The blog is meant to develop a dialoguenbsp;and educatenbsp;those with an interest in the commodity future markets. The commodity markets may not be appropriatenbsp;for all investors due to the high degree of leverage.nbsp; Investing in the commodity futures could result in substantial risk.nbsp; If you are interested in reading other circulated articles, commentingnbsp; on his publicationsnbsp;or subscribing to Andys blog,nbsp;please visit http://blog.commodityandderivativeadv.com, or if you have any questions, please call 1-866-990-0777./p

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