In This Issue

Hot Market Report: July Soybeans

Monthly Futures Forecast: June 2009

Economic Reports and Expiration Notices

June 4th, 2009 - Issue #483

Hot Market Report: July Soybeans

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Monthly Futures Forecast: June 2009

Excerpt

With the doomsday scenario apparently off the table, prospects for recovery have helped fuel the resurgence in stocks and in some commodity prices. The first wave of the Treasury's unprecedented debt sales have been absorbed relatively smoothly, though the US dollar has weakened substantially on concerns about the mounting government debt burden. Still, there are growing hopes that the economic rescue measures implemented by global central banks and governments are beginning to take hold and provide a lush foundation of 'green shoots' underfoot that can be nurtured into a blossoming global economic recovery by late 2009 or into 2010. The data in May seemed to have confirmed that things have stopped getting worse but do not suggest a timeframe for when the economic environment will actually improve. Debate is now centering on what the "shape" of the economic recovery will be, with sentiments represented by letters from "V" to "U" to "W," and of course, the dreaded "L". A number of economic and political events in June could help influence the outcome of this economic alphabet soup.

Triple-A, For Now

Peering into June, trading in US Treasuries will likely remain a focal point for financial markets around the world. The action in these markets will hint at the possible shape and timing of any economic recovery. A sustained uptick in rates could severely hinder any rebound in US housing, but also stoke fears the United State's AAA sovereign debt rating could be jeopardized by driving up the cost of issuing and servicing future debt. US credit markets participants will also continue assess Fed policy with specific attention on the effectiveness of its quantitative easing program...

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Economic Reports and Expiration Notices

Source: Moore Research Center, Inc.

* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.

** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.

*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!