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Welcome to the Agricultural Futures Trading’s agricultural / commodity futures trading blog. Each day our veteran AG Futures Trader provides unique insights into the commodities markets with over 20 year’s experience.

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AgFutures Trading Weekend Report: An Insider’s View of the Next Big Market Move

Once each week, usually on Friday evenings, we update our personal weekly commodity trading charts and review them for changes in “net long” or, “net short” holdings between the big commercial commodity traders, large speculators, and the usually uninformed public. This is our professional analysis of “the bigger picture” and current dynamics for each market which provide a spyglass view of the BIG commercial traders and what they are currently doing to influence the futures markets.

As you may already know, insider trading with stocks on Wall Street is very illegal. However, in the commodity trading industry, large/commercial traders MUST report their positions EACH WEEK to the CFTC regulatory body, hence, we monitor them on a weekly basis. Although the futures markets themselves will ultimately provide the most accurate illustration of trend, these (weekly) charts we’ve identified, serve to forewarn us of the next possible bigger move.

Here are the commodity markets which illustrate the changing bigger picture for them:

UP Trending Futures Markets:  Cotton and S&P 500 Index

DOWN Trending Futures Markets:  Natural Gas, Lean Hogs, Feeder Cattle, Coffee and Kansas Wheat

To see “An Insider’s View of the Next Big Market Move,” find your way to http://AGFuturesTrading.com | Contact Us and fill in the form on the right-hand side. What are you waiting for…? It’s FREE!

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Crude Oil Futures Remove All February Gains

Crude Oil futures erased all gains made this past month earlier today and was within $4 of last month’s multi-year low. April delivery crude oil futures settled today at $48.92 per barrel at the New York Mercantile Exchange from their lows of $47.80 earlier in Thursday’s trading session.

We were cautioned by analysts to brace ourselves for a bounce back up to the $70 per barrel range, but all three attempts to follow-through above $55 fell short. It is probably because all eyes might have been on yesterday’s “Energy Information Administration’s” weekly report stating US crude oil inventories increased by 8.4 million barrels last week – when only a 4M increase was expected.

The trend for crude oil futures is technically “down,” but at a crossroads. If crude oil futures were to break out above the $55 highs of this month, it’s first target should be $59, then $65 per barrel. However, a break below last month’s low could send crude oil futures to the low $30’s – if not lower.

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Strike by Brazil’s Truckers Affecting Soybean Futures

Soybean futures have back-tracked just as much as they shot-up in price yesterday based on what is transpiring a continent away. Soybean futures traded at the Chicago Board of Trade is currently down .115 cents at $10.0725 per bushel (as of this writing) after closing up above $10.18 only yesterday.

Apparently concerns regarding disruptions to supplies from Brazil had reportedly boosted prices as a strike from truckers there protesting high fuel prices has continued for a week. More recently the Brazilian government has imposed a fine on these truckers for blocking the road and holding-up grain exports at their nation’s second-largest exporting city.

Soybean futures trend had turned up just last week, possibly due to this South American strike. Seasonally speaking, however, soybean futures do turn the corner right about this time so I’m happy to be with the new found trend.

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Hog Futures: The Only Commodity to Fall More Than Oil

Despite energy and gold dominating the news wires recently, lean hog futures are the one commodity that has actually fallen MORE than crude oil. Lean hog futures are actually up 40 points at the Chicago Mercantile Exchange (as of this writing), but in the overall scheme of things the hog market has actually plummeted over 51% since the end of last June.

“Lean hog” (futures) – the market-term designating butchered pigs regardless of size – have only sunk in price after reaching record highs last summer after a terrible disease decimated supplies. Thankfully to the credit of resourceful pig farmers, once the virus ran its course more hogs made it to the market and the USDA projects a 5.5% rise in pork production this year at a time of slowing int’l demand.

The trend for hog futures is down with no clear bottom yet in sight. All lean hog rallies should be viewed as opportunities to get in on the short side – which is where I’m at.

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AgFutures Trading’s Weekend Report: An Insider’s View of the Next Big Market Move

Once each week, usually on Friday evenings, we update our personal weekly commodity trading charts and review them for changes in “net long” or, “net short” holdings between the big commercial commodity traders, large speculators, and the usually uninformed public. This is our professional analysis of “the bigger picture” and current dynamics for each market which provide a spyglass view of the BIG commercial traders and what they are currently doing to influence the futures markets.

As you may already know, insider trading with stocks on Wall Street is very illegal. However, in the commodity trading industry, large/commercial traders MUST report their positions EACH WEEK to the CFTC regulatory body, hence, we monitor them on a weekly basis. Although the futures markets themselves will ultimately provide the most accurate illustration of trend, these (weekly) charts we’ve identified, serve to forewarn us of the next possible bigger move.

Here are the commodity markets which illustrate the changing bigger picture for them:

UP Trending Futures Markets:  Russell 2000 Index and Cotton, NASDAQ & S&P 500 Indices (These three new this week.)

DOWN Trending Futures Markets:  Copper, Natural Gas, Lean Hogs, Euro-FX, Feeder Cattle, Coffee, Kansas Wheat and Sugar (New this week.)

To see “An Insider’s View of the Next Big Market Move,” find your way to http://AGFuturesTrading.com | Contact Us and fill in the form on the right-hand side. What are you waiting for…? It’s FREE!

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Demand Concerns Weakening Wheat Futures

Wheat futures initially extended their losses from yesterday earlier in the trading session because of the outlook of waning demand for domestic supplies. May Wheat futures have since rebounded and are currently .03 cents higher at the Chicago Board of Trade, and .015 cents higher at the Kansas City Board of trade (as of this writing).

Wheat futures took a significant plunge yesterday when it was revealed Egypt cancelled their tender to purchase US wheat. This is an important factor in the price of wheat because Egypt happens to be the world’s biggest wheat importer.

Wheat futures trend is technically down, but at a crossroads. The outlook for wheat futures is all bearish if you listen to the news, but this market could be bottoming if May Wheat were to trade up to $5.45 per bushel before taking out today’s lows in the very near future.

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Soybean Futures Shift Trend to Up on Crushing Demand

Soybean futures managed to reach a five week high in very early trading today before doing an “about-face” by mid-session. Soybean futures are currently down .16c per bushel at the Chicago Board of Trade as of this writing.

Earlier this week the US National Oilseed Processors Association stated in an official report something that has never happened before – January saw the biggest soybean crush ever recorded in that particular month. A sign of things to come…? Not so fast, soybeans remain vulnerable with the South American crop looking good (so far).

The trend for soybean futures has just turned up with the five week high being set. Although soybean futures have done a complete about-face since hitting those highs, I am looking for buy signals.

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New York’s Feds Send Gold Futures Plummeting

Gold futures are sharply lower today reportedly after the New York Federal Reserve’s index of manufacturing conditions showed improvement for prospects in February – but just not at the pace for economic growth expected. The index dipped to a level of “7.8” for this month when in fact analysts were4 expecting 8.5.

Gold futures may be at a vulnerable crossroads amid ongoing expectations for the Federal Reserve private bank to begin a campaign to raise interest-rates possibly in June. Higher interest-rates are considered bearish for gold & precious metals as an investment because it competes with yield-bearing assets when rates are rising.

The trend for gold futures is down once again after a brief rise last month. There is no bottom yet in sight for gold futures, however, a base of support comes in at the $1,170.00 level in my study.

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AgFutures Trading Weekend Report: An Insider’s View of the Next Big Market Move

Once each week, usually on Friday evenings, we update our personal weekly commodity trading charts and review them for changes in “net long” or, “net short” holdings between the big commercial commodity traders, large speculators, and the usually uninformed public. This is our professional analysis of “the bigger picture” and current dynamics for each market which provide a spyglass view of the BIG commercial traders and what they are currently doing to influence the futures markets.

As you may already know, insider trading with stocks on Wall Street is very illegal. However, in the commodity trading industry, large/commercial traders MUST report their positions EACH WEEK to the CFTC regulatory body, hence, we monitor them on a weekly basis. Although the futures markets themselves will ultimately provide the most accurate illustration of trend, these (weekly) charts we’ve identified, serve to forewarn us of the next possible bigger move.

Here are the commodity markets which illustrate the changing bigger picture for them:

UP Trending Futures Markets:  Russell 2000 Index (New this week.)

DOWN Trending Futures Markets:  Copper, Natural Gas, Lean Hogs, Euro-FX, Feeder Cattle, Coffee, Crude Oil, Kansas Wheat and Japanese Yen, Soymeal & Soybeans (These three new this week.)

To see “An Insider’s View of the Next Big Market Move,” find your way to http://AGFuturesTrading.com | Contact Us and fill in the form on the right-hand side. What are you waiting for…? It’s FREE!

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