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 planking 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.
Wheat futures closed 3 to 5 cents lower today. Weekly wheat export inspections were reported at 395,963 MT, down from 527,633 MT last week. YTD inspections are now at 3,643,897 MT, which compares to 5,116,841 MT at this time last year.Private exporters reported to the USDA export sales of 101,000 metric tons of wheat for delivery to Nigeria during the 2014/2015 marketing year. Of the total, 61,000 tons is hard red winter and 40,000 tons is soft red winter wheat. The US winter wheat harvest is still cruising along at 83% complete. The 5-year average would be 80%. Spring wheat heading matches the average pace of 93%. USDA shows 70% of the crop in good/ex condition, the same as last week but with 1% more rated excellent.
Sep 14 CBOT Wheat closed at $5.34 3/4, down 3 1/4 cents,
Sep 14 KCBT Wheat closed at $6.25 1/2, down 5 3/4 cents,
Sep 14 MGEX Wheat closed at $6.21 1/4, down 6 1/2 cents