In This Issue
1. Labor Day Schedule below
2. Softs: What's ahead for coffee, Sugar and Cotton? by J. Ganes Consulting LLC
3. Economic Calendar
The threat of an El Niño has been menacing the markets for the better part of year but it has to be remembered that the effects of El Niño (and La Niña) are varied worldwide, and this causes different outcomes on production by region. There are also major exceptions to the common thinking that El Niño is simply bad for crops and La Niña tends to benefit output. The intensity of an El Niño is extremely important in determining its effect on specific production. A weak or moderate El Niño for example could bring a positive benefit to production whereas a strong El Niño could cause havoc. The timing of the event is also critical because of how it may bring disruptive rains or too little rain at different points in the growing season or harvesting time. The delayed onset therefore of an El Niño can cause the production view to change radically. For example, earlier in the year it had been feared that heavy rains associated with an El Niño could disrupt the coffee harvest in Brazil or cause poor growing conditions for the developing main cocoa crop in West Africa. Neither of these has happened. Not only has there been a delay in the onset, but now the likelihood of an occurrence has also been diminished. The Climate Prediction Center had previously put the chance of an El Niño at 70% but now has decreased this to about 65% chance during the Northern Hemisphere fall and early winter.
According to the Climate Prediction...
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Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 09/01 Mon |
LABOR DAY | |
| 09/02 Tues |
9:00 AM CDT - Construction Spending(Jul) 9:00 AM CDT - ISM Index(Aug) |
FN: Sep Orange Juice(ICE) |
| 09/03 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index 9:00 AM CDT - Factory Orders(Jul) 1:00 PM CDT - Auto & Truck Sales(Aug) 1:00 PM CDT - Fed's Beige Book(Sep) |
FN: Sep RBOB & ULSD(NYM) LT: Aug Butter(CME) Aug Milk(CME) Aug Butter Options(CME) Aug Milk Options(CME) |
| 09/04 Thurs |
6:30 AM CDT - Challenger Job Cuts(Aug) 7:15 AM CDT - ADP Employment Change(Aug) 7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Productivity-Rev(Q2) 7:30 AM CDT - Trade Balance(Jul) 7:30 AM CDT - Unit Labor Costs(Q2) 9:00 AM CDT - ISM Services(Aug) 9:30 AM CDT - EIA Gas Storage 10:00 AM CDT - API & DOE Energy Stats 3:00 PM CDT - Dairy Products Sales 3:30 PM CDT - Money Supply |
|
| 09/05 Fri |
7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Ave Workweek & Hourly Earnings(Aug) 7:30 AM CDT - Nonfarm Payrolls(Aug) 7:30 AM CDT - Unemployment Rate(Aug) |
LT: Sep Canadian Dollar Options(CME) Sep Currencies Options(CME) Sep Live Cattle Options(CME) Sep US Dollar Index Options(ICE) Oct Cocoa Options(ICE) |
| 09/08 Mon |
2:00 PM CDT - Consumer Credit(Jul) |
* 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!