Futures Traders: Get FREE daily videos covering today's hottest market
Twenty-five-year commodity market veteran Jim Prince is an expert in the principles of technical trading. Each day Jim reviews the biggest moves in the commodity markets, identifying formations and planning trading strategies. And now, in his free Daily Alert, Jim will share with you his hot pick of the day with an exclusive 3-5 minute video.
With each Daily Alert video Jim reviews first-hand his featured chart of the day, discusses trading strategy, and highlights possible entry and exit points.
Enter your e-mail below to view the latest Daily Alert and receive a complimentary PDF on Cycle Trading techniques to find the right conditions for entering the market.
Corn futures are trading steady this morning. They settled mostly 3 1/2 to 4 1/2 cents lower on Monday session, with most contracts logging new life of contract lows. The sell off continued despite yield estimates from private firms that are mostly below the USDA August figure. Even if the crop is only 14.6 or 14.8 billion bushels, end users don’t want all of it at harvest. Crop condition ratings in the weekly update from NASS were steady with the previous week. As of Sunday, about 92% of the crop had reached the dough stage, vs. the five year average of 87% for this week. Weekly export inspections were 1.422 MMT, which was up 11.15% from vs. the previous week and about 42.2% larger than the same week last year.