In This Issue
1. Market Review: Corn Futures
2. Monthly Futures Forecast: March 2010
3. Economic Calendar
Disclaimer: 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.
The above chart is the daily continuation chart for May corn.
Blue diamond a few weeks ago signaled that possible short term lows may be in place. The market has been able to rally a bit but it is having difficulties at the current levels. We need to see a break above 392 basis the May contract for continued upside momentum with 407 as a possible target.
On the flip side, a close below 378 could trigger a grind / sell off lower.
If you would like to discuss potential trade ideas for the corn market or any other markets along with possible use of options, please feel free to contact a series 3 Cannon Trading broker for one on one discussion.
With something clearly rotten in the Hellenic Republic and US economic data looking decidedly weaker than just a few months ago, markets are facing a drama of Shakespearian proportions in March. The first week of the month is looking suitably eventful, what with interest rate decisions from all corners of the globe (including the RBA, BoE and ECB) and the all-important US employment data. However, these reports will likely be overshadowed by politics, as elected leaders here and abroad attempt to patch up the holes in various policy melodramas. In Washington, with midterm elections on the horizon and Congress as divided as ever, battles are raging over every piece of President Obama's agenda. In Europe, the Greek tragedy is headed for its final act, with dire implications for the Euro Zone no matter what the outcome. In Asia, more and more pressure is coming to bear on the PBoC to cool the overheating Chinese economy, while the country's leadership agonize over the yuan exchange rate...
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 03/04 Thu |
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly 7:30 AM CST - Productivity-Rev(Q4) 7:30 AM CST - Unit Labor Costs(Q4) 9:00 AM CST - Factory Orders(Jan) 9:00 AM CST - Pending Home Sales(Jan) 9:30 AM CST - EIA Gas Storage 3:30 PM CST - Money Supply |
LT: Feb Milk(CME)
Feb Milk Options(CME) |
| 03/05 Fri |
7:30 AM CST - Dairy Products Prices
7:30 AM CST - Ave Workweek & Hourly Earnings(Feb) 7:30 AM CST - Nonfarm Payrolls(Feb) 7:30 AM CST - Unemployment Rate(Feb) 2:00 PM CST - Consumer Credit(Jan) |
LT: Mar Canadian Dollar Options(CME)
Mar Currencies Options(CME) Mar US Dollar Index Options(ICE) Mar Live Cattle Options(CME) Mar Pork Bellies Options(CME) Apr Cocoa Options(ICE) |
| 03/08 Mon |
FN: Mar Butter(CME)
Mar Pork Bellies(CME) |
|
| 03/09 Tue |
LT: Mar Cotton(NYM) | |
| 03/10 Wed |
7:30 AM CST - WASDE Report & Crop Production
7:30 AM CST - Supply & Demand 9:00 AM CST - Wholesales Inventories(Jan) 9:30 AM CST - API & DOE Energy Stats 1:00 PM CST - Treasury Budget(Feb) |
|
| 03/11 Thu |
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly 7:30 AM CST - Trade Balance(Jan) 9:30 AM CST - EIA Gas Storage 3:30 PM CST - Money Supply |
* 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!