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 closed down by double digits, with the exception of Kansas City, which dropped 9 1/2 cents. The bulls need a story and they do not have one right now. Export sales reported this morning were just 5,800 MT more than the previous week, coming in at 507,600 MT in this report.They were, however, on the higher end of published trade expectations. The US Dollar Index burst through the 96 level and is up 439 points, continuing make US products more costly in a highly competitive world export market.
Mar 15 CBOT Wheat closed at $4.81 1/4, down 12 1/4 cents,
Mar 15 KCBT Wheat closed at $5.14, down 9 1/2 cents,
Mar 15 MGEX Wheat closed at $5.47, down 10 1/4 cents