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 were mostly UNCH to slightly higher on the day, but were down on the week.CHI wheat was down 6.5 cents, and MPLS wheat lost 8 cents, but KC wheat lost less than two cents.December options expired today.As of the Tuesday close, managed money accounts had decreased their net short position in Chicago wheat by 19,254 contracts, bringing their net position to short -11,881 contracts.Their net long position in KC wheat grew by 753 contracts from the previous week.The US Dollar index was up nearly 700 points on the day, which brought some added pressure to the export-sensitive US wheat market.
Dec 14 CBOT Wheat closed at $5.47 1/4, unch,
Dec 14 KCBT Wheat closed at $6.04, up 1 3/4 cents,
Dec 14 MGEX Wheat closed at $5.83 1/4, down 1 1/4 cents