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.
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Wheat futures are trading 4 to 7 cents lower this morning. The Sept 14 KCBT contract displayed the most strength and was up nearly a dime on Friday. GULF CIF SRW bids slipped a nickel for July this morning, currently at +$.40 September. Trader talk regarding crop quality in France continues as rains hit the east and northern portions of the country. As of the close last Tuesday, managed money account sold 8,024 contracts in CBOT wheat for the week, giving them a net short position of 54,519 lots. They were still net long 13,407 contracts in KC as of last Tuesday