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 continued its bearish momentum this week pushing corn near 3 year lows trading far below its 20 and 100 day moving average settling this week at 4.52 of bushel right at session lows this Friday afternoon and down about $.10 for the trading week as U.S crop conditions are excellent at this point in time. Traders are waiting Monday afternoon’s USDA report which could surprise the market in either direction but as I’ve been stating in many previous blogs I continue to remain bearish this entire complex and I’m still advising traders to be short across the board. Soybean futures for the November contract are still trading below their 20 and 100 day moving average basically settling unchanged for the trading week and are much stronger than corn or wheat but it hit contract lows in Wednesday’s trade before rallying $.20 yesterday as traders are awaiting the supply/ demand and production numbers Monday afternoon. Continue reading "Weekly Futures Recap W/Mike Seery"