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"