- The Golden Trade
THIS LOOKS LIKE AN OLD FASHIONED TURKEY TROTT
- MDA SnapShot: Long 30yr Bond Trade Update, 11/22/17
The post MDA SnapShot: Long 30yr Bond Trade Update, 11/22/17 appeared first on Daniels Trading. Position Update Published 11/22/17 2:20 pm central: Traders,...
- Let's give Thanks, confidence in System? Change,
FRB Yellens' natives getting restless? Yield curve
- The Cullen Outlook – Formation Finder (KC Wheat) 11-17
The post The Cullen Outlook – Formation Finder (KC Wheat) 11-17 appeared first on Daniels Trading. I believe it is time to turn our attention to a possible...
- Morning Grains Report 11/22/17
WHEAT General Comments: Wheat closed higher in all three markets, with the best strength in Winter Wheat contracts. There was a news story out about a...
- Market rankings for the option trader
Reduce some risk in the Nasdaq today. Roll up ITM calls.
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Corn futures are trading fractionally higher on Wednesday. They are showing little reaction to last week’s record ethanol production (corn use >106 mbu for the week), as huge stocks and large US production are weighing on the market. This morning’s weekly EIA report indicated a record 1.074 million barrels per day of ethanol was produced during the week of November 17. That blew past the previous record of 1.06 million bpd, as ethanol stocks rose 400,000 barrels to 21.897 million barrels. Corn export sales during the week of 11/16 are projected to come in at 0.9 to 1.3 MMT in Friday morning’s Export sales report.Dec 17 Corn is at $3.45 1/4, up 1/4 cent,Mar 18 Corn is at $3.56 3/4, up 1/2 cent,May 18 Corn is at $3.65 1/4, up 3/4 centJul 18 Corn is at $3.73, up 3/4 cent
Soybean futures are 8 to 9 cents higher in most contracts at midday. December meal is up $5.90/ton, with nearby bean oil down 7 points. Recent rains in South America this last week missed a chunk of Argentina. A possible La Nina pattern could leave the country much cooler and/or drier than normal early, hurting yields. On Friday, the delayed USDA Export Sales report is expected to show 17/18 soybean sales of 1-1.4 MMT during the week ending 11/16. There is also 0-100,000 MT estimated in 18/19 sales. Soy meal export sales are projected to range 100,000-300,000 MT, with soy oil expected at 0-22,000 MT. The market will be closed on Thursday in observance of Thanksgiving, with Friday showing an early close around noon.Jan 18 Soybeans are at $9.98, up 9 cents,Mar 18 Soybeans are at $10.09 1/4, up 9 cents,May 18 Soybeans are at $10.18 3/4, up 8 3/4 cents,Jul 18 Soybeans are at $10.26 3/4, up 8 3/4 cents,Dec 17 Soybean Meal is at $324.20, up $5.90Dec 17 Soybean Oil is at $34.10, down $0.07
Wheat futures are mostly higher on Wednesday, with nearby Dec CBT the only front month lower. The USDA is expected to indicate 350,000-550,000 MT in all wheat export sales of Friday for the week ending Nov 16. The Bureau of Meteorology in Australia estimates a 70% of a La Nina pattern starting in December. That would most likely bring warmer and wetter summers to the country, giving much needed moisture to the area. It would not be a major factor for 2017 wheat, which is already being harvested.Dec 17 CBOT Wheat is at $4.24, down 3/4 cent,Dec 17 KCBT Wheat is at $4.22 3/4, up 2 1/2 cents,Dec 17 MGEX Wheat is at $6.28 3/4, up 1 3/4 cents