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 1 to 2 cents lower in Chicago and KC this morning, with Minneapolis futures still on the plus side.Futures took a 15-19 cent hit yesterday despite the USDA report numbers being slightly positive vs. expectations. They had rallied sharply on Monday. In the trading arena this is called “buy the rumor, sell the fact”. Minneapolis futures were up 3.5% for the month, but down 7.4% for the quarter. Chicago SRW was down 13.2% for the JFM quarter. All-wheat acreage was expected to come in above 55.7 million and was put at 55.367 million. Other Spring estimates averaged 13.3ma; USDA found less than 13 million. Trade estimates for March 1 wheat stocks also were above the official USDA figure of 1.124 billion.