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 are trading steady to slightly higher. Weekly export sales came in above the high end of trade expectations this week at 459,100 MT. Due to widespread lack of moisture and weak stands going into dormancy, IKAR is projecting the next Russian wheat crop will only be 46.5 MMT. SovEcon put it at 50 MMT. The USDA estimate for the 2014/15 Russian wheat production was 59 MMT, up from 52.09 MMT in 2013/14.
Dec 14 CBOT Wheat is at $5.41 3/4, up 3 1/2 cents,