Weekly Futures Recap w/Mike Seery

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Cotton Futures-- Cotton futures for the December contract was down sharply this week settling at 83.11 last Friday down over 375 points this week in New York continuing its bearish momentum after breaking down at 82 last week currently trading at 79.30 basically unchanged this Friday afternoon. Prices are still trading below their 20 and 100 day moving average hitting a 9 month low & I’m still recommending a short position placing your stop above the 10 day high which at the time was about a $1200 risk but at today’s current price is around $2,500 remembering cotton is a very large contract. In my opinion it looks that cotton prices will retest the 78 level possibly even heading lower as there is weakening demand & excellent crops around the world pushing up supplies at this time despite the fact that the U.S dollar hit a 1 1/2 year low having very little effect on cotton prices at this time. The USDA will come out with crop estimates next week and it’s been quite some time for fresh news to appear due to the government shutdown and that should guide short-term price direction. TREND: LOWER –CHART STRUCTURE: EXCELLENT Continue reading "Weekly Futures Recap w/Mike Seery"

Weekly Futures Recap w/Mike Seery

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Grain Futures--- The grain market settled mixed this week in Chicago as traders are anticipating a major report on September 30th which is this Monday at 11 o’clock central time showing where carryover levels currently stand and the last several reports  have been big price movers as carryovers fluctuate tremendously with soybeans finishing up $.03 this Friday afternoon settling at 13.20 basically unchanged for the trading week with the carryover level estimated at 125 million bushels consolidating this week after a $.70 hair cut in last week’s trade. Continue reading "Weekly Futures Recap w/Mike Seery"

Weekly Futures Recap w/Mike Seery

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Soybean Futures-- Soybean futures had a wild trading week ending lower by $.13 this Friday at 13.83 but having a very bullish USDA crop report despite the fact that we are going to have the 4th largest crop in U.S history, but the carryover level dropped from 220 bushels all way down to 150 million bushels which now means the carryover in soybeans is tight again which should keep prices high for quite some time. We thought the carryover number was going to be 295 million bushels earlier in the summer and that’s how much this figure has dropped and if you go into the next report with possibly an even lower crop than 3.14 billion bushels and a carryover of 100 million prices could really move to the upside in my opinion. The grain complex in general is still in a bearish trend except for soybeans as the spread price between corn and soybeans is right near record levels as there is still huge demand for soybeans and I wonder what the next crop report is going to say as this was a disappointing crop year in my opinion. This year’s crop is only 3% higher than last year’s drought stricken crop which is amazing in my opinion but we just had too many bad things happen this year with cool & wet weather and then hot & dry with a very sporadic weather pattern causing the poor crop this year as now we start to enter Brazil’s planting season which is expected to be another record crop. TREND: HIGHER –CHART STRUCTURE: IMPROVING Continue reading "Weekly Futures Recap w/Mike Seery"

Weekly Futures Recap w/Mike Seery

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Gold Futures--- Gold futures this week saw extremely volatile trade finishing out this Friday afternoon up $14 at 1, 387 an ounce and traded as low as 1,358 this morning before the U.S unemployment report came out showing we added 169,000 new jobs which was disappointing to traders thinking that the Federal Reserve will not taper pushing many commodities higher this afternoon. Tensions in Syria as well are starting to flare-up as it looks like Pres. Obama is determine have some type of strike against Syria which also lent support to prices this afternoon as gold is kind of stuck in a range between 1,430 & 1,350 looking for some new fundamental news to dictate short-term prices. Continue reading "Weekly Futures Recap w/Mike Seery"