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 finished Tuesday trade with gains of 8 to 9 cents for SRW, 4 to 5 cents for HRW, and 2 to 3 cents for HRS. As of the Monday close, September15 SRW futures were down about $1.16 from the high on June 30. Sept15 HRW futures lost 92 cents over the same period, and Sept15 HRS futures were down more than 89 cents. In the midday report, gulf bids for CIF SRW were up 4 cents for Sep, Oct, Nov, and Dec shipments. As of Sunday night, the US winter wheat crop was 85% harvested (5 points ahead of the 5yr avg), and OK, KS, AK and NC had finished up. The condition of the HRS crop improved slightly from last week, and 2% has been harvested.
Sep 15 CBOT Wheat closed at $5.10 3/4, up 8 1/4 cents,
Sep 15 KCBT Wheat closed at $5.04 3/4, up 5 1/2 cents,
Sep 15 MGEX Wheat closed at $5.40 1/4, up 3 1/4 cents