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by: Craig
Dubbs
(800)
947-0347
DISCLAIMER
Commodity trading always involves substantial risk and is not
suitable for all investors. The opinions expressed herein and the
basic information from which they are drawn, are believed to be
reliable but because of their complexities and their reference to
the future, cannot be guaranteed therefore no representation or
guarantee of possible future performance is made hereby. Neither
the information nor any opinion herein constitutes a solicitation
by us of the purchase or sale of any commodities. It should be noted
that no method of trading or investing is foolproof or without difficulty,
and past performance is not necessarily indicative of future performance.
April 2, 2008 - Wednesday Morning
April 2, 2008Wednesday MorningThe night trade had CK+5, WK+9 and SK-3.The opening calls for soybeans are 5 to 10 lower, corn 3 to 5 higher and wheat 5 to 9 higher.The USDA will release a world supply and demand report next Wednesday.Today’s price limits for soybeans are 70 cents, corn 30 cents and wheat 60 cents.NEWS:The Delta and eastern Corn Belt continues to have a wet forecast.The western HRW Belt continues to have dry conditions and will begin to affect the yield.Northern China is experiencing drought conditions to start the growing season.TECHNIAL POINTS:The CK has resistance at 579, 581 and 584. The CK has support at 535, 531 and 530.The SK has resistance at 1233 and 1259. The SK has support at 1144 and 1128.The WN has resistance at 985, 1022 and 1058. The WN has support at 879, 854 and 776.COMMENTS:After fifteen years with Rand Financial Services, this is my last day for working at Rand and will start tomorrow at my new FCM Rosenthal Collins Group.Thanks, Craig
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April 1, 2008 - Tuesday Morning
April 1, 2008Tuesday MorningThe night trade had CK-1 ½, WK-18 ½ and SK-70.The opening calls for soybeans are 60 to 70 lower, corn 2 to 4 lower and wheat 12 to 18 lower.The trading limits today for soybeans are $1.05, corn 30 cents and Chicago wheat 90 cents with KC and MN at 60 cents.NEWS:The outside markets are bearish this morning; the dollar is higher.The HRW Belt continues dry conditions in the west.The Delta and eastern Corn Belt continues to have a wet forecast.The weekly wheat crop rating for OK and TX improved but KS ratings were down.The EU grain lobby, Coceral estimates the EU cereal grain at 283.6 MMT vs. 254.3 last year; corn 54.5 vs. 46.3 last year.There will be 1 million acres come out of the CRP this year.TECHNICAL POINTS: The CK has resistance at 579, 581 and 584. The CK has support at 534, 532 and 530.The SK has resistance at 1241. The SK has support at 1152.The WN has resistance at 1005, 1019 and 1074. The WN has support at 877, 871 and 796.Thanks, Craig
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March 31, 2008 - Monday Morning
March 31, 2008Monday MorningThe night trade had CK+5, WK-15 and SK+6.The opening calls for soybeans are 40 to 50 lower, corn 20 to 30 higher and wheat 5 to 10 lower.NEWS:The Acreage report showed corn at 86.0mil ac., soybeans 74.7, all wheat 63.8 and cotton 9.39.The stocks report for corn is 6.859, soybeans1.428 and wheat 710.The quarterly hog report is considered bearish.The Argentina government and farmers talks broke down and the blockades continue.The CK has resistance at 577 and 579. The CK has support at 530 and 528.The SK has resistance at 1338 and 1467. The SK has support at 1249 and 1240.The WN has resistance at 1025 and 1091. The WN has support at 887 and 817.Thanks, Craig
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March 28, 2008 - Friday Morning
March 28, 2008Friday MorningThe night trade had CK-6, WK -15 and SK-20.The opening calls for soybeans are 15 to 20 lower, corn 4 to 6 lower and wheat 10 to 15 lower.The USDA will release the quarterly hog report this afternoon and the grain stocks and prospective planting Monday morning.The trading limits for corn and soybeans are increasing today; new limits for corn are 30 cents and soybeans 70 cents.NEWS:The US HRW Belt will have good rain in the central and east but dry in the west.The eastern Corn Belt and Delta has a wet forecast for the next 10 days.Brazil’s soybean harvest is +50% complete, ahead of normal.Argentina is becoming less reliable source of grain exports due to politics.The President of Argentina is asking the farmers to end the strike.Tom Skilling is forecasting warming trends one to two weeks away; right on time.The average guess for the Prospective planting for corn is 87.4, soybeans 71.5, spring wheat 14.1 and all wheat 63.6.As much as 7 million new acres could come from hay and pastures to row crops.The cotton acreage is expected to be the lowest in 25 years.TECHNIAL POINTS:The CK has resistance at 572, 583 and 588. The CK has support at 541 and 537.The SK has resistance at 1346 and 1461. The SK has support at 1256 and 1235.The WN has resistance at 1046, 1108 and 1240. The WN has support at 1038, 1032, 1015 and 903.Thanks, Craig
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March 27, 2008 - Thursday Morning
March 27, 2008Thursday MorningThe night trade had CK+2, WK+17 and SK-7.The opening calls for soybeans are 5 to 7 lower, corn 1 to 3 higher and wheat 10 to 15 higher.The USDA will release the quarterly hog Friday afternoon and the planting report Monday morning.The new trading limits begin March 28; corn from 20 to 30 cents and soybeans from 50 to 70 cents.NEWS:The outside markets are starting the day quiet.The weekly export sales for wheat is old crop 386 and new crop 183 (400-700), corn old crop 632 and new crop 100 (600-900), soybeans old crop 369 and new crop 162 (300-700), soy meal old crop 157 and new crop 22 (100-150), soy oil 42 (10-20) and cotton 408.Argentina grain exporters are facing farmer contract defaults due to farmers selling at lower prices and prices are higher now.Brazil is expecting a record soy crop.ConAgra Inc is selling their trading and merchandising operations to Ospraie Special Opportunity Fund and others.The average guess for the grain stocks report for corn is 7.076, soybeans 1.352 and wheat 668.TECHNIAL POINTS:The CK has resistance at 555 and 570. The CK has support at 530 and 521.The SK has resistance at 1353 and 1456. The SK has support at 1229 and 1175.The WN has resistance at 1066 and 1224. The WN has support at 1022 and 857.Thanks, Craig
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