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 mostly higher this morning, finding support from the Stats Canada 2014/15 all wheat production figure which came in below the range of pre-report estimates. The range of most trade estimates was between 27.8 MMT and 29.9 MMT, and Stats Canada published the production figure at 27.704 MMT. The Canadian Spring wheat production estimate came in at only about 3/4 of the previous year. USDA reported net weekly export sales last week totaled 209,200 MT; the smallest weekly figure of this marketing year (which began on June 1). The Philippines were the largest buyer last week.
Sep 14 CBOT Wheat is at $5.44 3/4, up 5 1/4 cents,
Sep 14 KCBT Wheat is at $6.21 1/4, up 2 1/2 cents,