Monday, March 15, 2010
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May soybeans on Friday closed lower, near the session low, hit a fresh five-week low and closed at a bearish weekly low close. Soybean bears have the near-term technical advantage and gained fresh downside technical momentum late last week. The next downside price objective for the bears is pushing [...]

Monday, March 15, 2010
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OVERNIGHT/EARLY MORNING DEVELOPMENTS

The market features in overnight/early morning trading today are lower U.S. stock index futures prices and lower crude oil prices.

JIM’S MARKET THOUGHT OF THE DAY *

April crude oil posted a bearish “outside day” down on the daily bar chart on Friday and also posted a bearish weekly [...]

Thursday, March 11, 2010
May sugar closed down 63 points at 19.69 cents yesterday. Prices closed near mid-range yesterday and hit another fresh 7.5-month low. Serious chart damage has occurred in sugar recently, including more yesterday. Prices are in a steep six-week-old downtrend on the daily bar chart. There are no early technical clues to suggest [...]

Wednesday, March 10, 2010
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OVERNIGHT/EARLY MORNING DEVELOPMENTS

The market features in overnight/early morning trading today are firmer crude oil and gold futures prices.
JIM’S MARKET THOUGHT OF THE DAY *
Most agricultural commodity futures markets have price “seasonality,” whereby prices tend to trend higher or lower at certain times of the year. The seasonality in ag [...]

Tuesday, March 9, 2010
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OVERNIGHT/EARLY MORNING DEVELOPMENTS
The market feature in overnight/early morning trading today is a stronger U.S. dollar index and lower crude oil and gold futures prices.
JIM’S MARKET THOUGHT OF THE DAY *
Crude oil prices are under selling pressure today, after having pushed above $82.00 a barrel on Monday. While no near-term [...]

Monday, March 8, 2010
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May soybeans on Friday closed slightly higher and nearer the session low. Price action late last week in soybeans produced a bearish downside “breakout” from a sideways trading range. Soybean bears have the near-term technical advantage. The next downside price objective for the bears is pushing and closing prices [...]

Monday, March 8, 2010
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OVERNIGHT/EARLY MORNING DEVELOPMENTS
There is no standout market feature in quieter overnight/early morning trading today.
JIM’S MARKET THOUGHT OF THE DAY *
Trading in the U.S. dollar index and Euro currency futures has turned more sideways and choppy recently. Still, there are no solid, early technical clues to suggest the Euro currency [...]

Friday, March 5, 2010
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April crude oil closed down $0.56 at $80.31 a barrel yesterday. Prices closed near mid-range yesterday. Price pressure came from a stronger U.S. dollar and lower gold prices yesterday. Crude oil bulls still have the overall near-term technical advantage. The next upside price objective for the bulls is producing [...]

Friday, March 5, 2010
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OVERNIGHT/EARLY MORNING DEVELOPMENTS

There is no standout market feature in quieter overnight/early morning trading today, as traders await this morning’s important U.S. jobs data.

JIM’S MARKET THOUGHT OF THE DAY *

Commodity traders, an excellent gauge for determining the overall trend in commodity markets is the Continuous Commodity Index (CCI). The CCI [...]

Thursday, March 4, 2010
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May sugar closed down 63 points at 22.01 cents yesterday. Prices closed near the session low yesterday. The key “outside markets” were in a bullish posture for sugar yesterday, as the U.S. dollar index was lower, while crude oil, gold and stock index futures prices were higher. Yet, sugar [...]

Thursday, March 4, 2010
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OVERNIGHT/EARLY MORNING DEVELOPMENTS
There is no standout market feature in quieter overnight/early morning trading today.
JIM’S MARKET THOUGHT OF THE DAY *

Crude oil has pushed above $80.00 a barrel this week. Prices are in a four-week-old uptrend on the daily bar chart. The next upside price objective for the bulls [...]