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Food Beverage News and Commentary

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Thu, May 16th, 2024
Soybeans, Hanging In There And What Matters

The rally in Soybeans started from a 61.8% retracement on the continuation chart at 1138.00.

ZSN24 : 1225-2 (+0.74%)
Corn Futures Test Significant Support, Will it Hold?

Corn futures have been under pressure for the last three sessions after failing against resistance to start the week. Will support hold into the weekend or will the selling persist?

Sugar Prices Slump as Supply Concerns Fade

July NY world sugar #11 (SBN24 ) on Thursday closed down -0.32 (-1.72%), and Aug London ICE white sugar #5 (SWQ24 ) closed down -6.10 (-1.12%). Sugar prices Thursday added to this week's losses, with NY...

SBN24 : 18.33s (-1.72%)
SWQ24 : 536.20s (-1.12%)
Cocoa Settles Sharply Lower as Volatile Price Moves Continue

July ICE NY cocoa (CCN24 ) on Thursday closed down -450 (-5.74%), and July ICE London cocoa #7 (CAN24 ) closed down -325 (-4.96%). Cocoa prices posted sharp losses on Thursday as the market continued its...

CCN24 : 7,393s (-5.74%)
CAN24 : 6,229s (-4.96%)
Arabica Coffee Closes Lower as ICE Coffee Inventories Recover

July arabica coffee (KCN24 ) on Thursday closed down -1.50 (-0.75%), and July ICE robusta coffee (RMN24 ) closed up +18 (+0.53%). Coffee prices on Thursday settled mixed. A rebound in ICE coffee inventories...

KCN24 : 197.90s (-0.75%)
RMN24 : 3,420s (+0.53%)
^USDBRL : 5.13030 (+0.01%)
Sugar Prices Hammered on the Outlook for Abundant Supplies

July NY world sugar #11 (SBN24 ) today is down -0.25 (-1.34%), and Aug London ICE white sugar #5 (SWQ24 ) is down -4.10 (-0.76%). Sugar prices today extended this week's slide, with NY sugar posting a...

SBN24 : 18.33s (-1.72%)
SWQ24 : 536.20s (-1.12%)
Cocoa Sharply Lower as a Lack of Liquidity Sparks Volatile Price Moves

July ICE NY cocoa (CCN24 ) this morning is down -467 (-5.95%), and July ICE London cocoa #7 (CAN24 ) is down -314 (-4.79%). Cocoa prices today are sharply lower as the market continues its volatile price...

CCN24 : 7,393s (-5.74%)
CAN24 : 6,229s (-4.96%)
Coffee Prices Mixed on Higher ICE Coffee Inventories and Brazilian Real Strength

July arabica coffee (KCN24 ) this morning is down -0.60 (-0.30%), and July ICE robusta coffee (RMN24 ) is up +2 (+0.06%). Coffee prices today are mixed. A rebound in ICE coffee inventories from historically...

KCN24 : 197.90s (-0.75%)
RMN24 : 3,420s (+0.53%)
^USDBRL : 5.13030 (+0.01%)
No Bull | The Five Spot

#5 | Big Bushels U.S. corn yields haven't hit/exceeded so-called trend (USDA’s initial print) since 2018 and although 2023 was a record-high yield at 177.3 - it fell well-below the 181.5 trend. In four...

Did yesterday’s selloff change the technical picture for corn?

Corn futures were under pressure the last few days, but was it enough to cause technical damage or is the trend still intact?

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Test 🚨: X seems so slow lately. Do you see this post?
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U.S. Rising Debt levels could harm the Treasury Market warns Bridgewater Founder Ray Dalio https://t.co/2AY6kaxOng
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Sugar falls to lowest price since November 2022 https://t.co/8bnLQsC4yw
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JP Morgan Insider Trading Alert 🚨 Executive Marianne Lake sold 11,734 $JPM shares for a total value of $2.34 million https://t.co/kmOj5xYvpJ https://t.co/KxHY1SiMtX
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Bears this week 😂 https://t.co/zSffCCdQIT
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A look at hyperinflation in Zimbabwe - 100 Trillion Banknote 👀 https://t.co/dai9aJa6Xk
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Chinese Stocks with an imminent Golden Cross formation https://t.co/xERTcA9zXg
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Stanley Druckenmiller loaded up on Small Caps in the first quarter by buying 31,579 $IWM call options for a total stock notional value of approximately $664 million according to CNBC. (This appears to be assuming 100 Delta Calls but strike and expiry are unknown). https://t.co/jHaceaWXjz
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80% of S&P 500 $SPX stocks are now trading above their 200D moving average, closing in on the highest level since September 2021 https://t.co/f9uzviuTch
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Fun Fact 🚨: Goldman Sachs $GS, NOT tech stocks like $AAPL $AMZN $MSFT, is the biggest point contributor to the Dow Jones Industrials since the index hit 30,000 https://t.co/tEg17Sjncq https://t.co/hjNUCYgYYZ

Chart of the Day

The Chart of the Day belongs to financial service company The Goldman Sachs Group (GS). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the...
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