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Archive for March 8th, 2012

European Markets Summary

Posted Mar 8 2012

London Stocks Close Higher; Greek Hopes Help

FTSE 100 ends up 1.2% at 5859.73 as investors become increasingly convinced that there will be a high participation rate in the Greek debt swap. Indeed, the latest from a Greek official is that the Greek bond swap is on track to exceed expectations according. Continue Reading…

Soybeans Market Analysis

Posted Mar 8 2012

May soybeans were trading up 5 cents late in the overnight session. China futures closed slightly higher overnight and palm oil futures in Malaysia closed 1.1% higher. Asia equity markets were higher overnight as that region was anticipating something favorable from the Greek debt swap but those markets were also tossing around the idea that the PBOC might be poised to embark on more easing efforts. Continue Reading…

Natural Gas Market Analysis

Posted Mar 8 2012

April natural gas prices drifted lower during the overnight trading hours but bounced from a test of yesterday’s new contract low. Perhaps that is a sign that the 19.5% decline from the February 23rd high into yesterday’s low could be overdone and vulnerable for more upside. Continue Reading…

Wheat Market Analysis

Posted Mar 8 2012

May wheat was trading 6 1/2 cents higher late in the overnight session. Outside market forces look positive this morning with a firm tone to equity and metal markets and a lower USD. Continue Reading…

Crude Oil Market Analysis

Posted Mar 8 2012

April crude oil prices trended higher throughout the early morning hours and extended the advance from yesterday’s low of $104.35. It appears that the crude oil market is drafting good support from a boost in risk-taking sentiment during the overnight and early morning hours. Continue Reading…

Cocoa Market Analysis

Posted Mar 8 2012

May cocoa found some support overnight from improving macro-economic sentiment. This week’s choppy and two-sided trading pattern has been unable to prevent a negative close occurring during the last four sessions in a row, during which May cocoa has lost $89 or 3.8% in value. Continue Reading…

Sugar Market Analysis

Posted Mar 8 2012

Outside market forces look positive to start the session today and some traders hope that this will halt the fairly aggressive long liquidation selling trend in sugar and many other agricultural commodity markets. Continue Reading…

Copper Market Analysis

Posted Mar 8 2012

Like a host of physical commodity markets, copper is showing definitively positive action in the early going today and that appears to be the result of a number of bullish angles. Continue Reading…

Cotton Market Analysis

Posted Mar 8 2012

The market looks to remain volatile into next week as traders try to sort out the impact of the India export ban. There are ministerial meetings in India on Friday to determine if outstanding sales from India will be honored. Continue Reading…

Gold Market Analysis

Posted Mar 8 2012

The gold market has jumped sharply higher in sync with higher equities and a stronger Euro. Apparently the market thinks the fix is in for the Greek event today, but with US data recently supporting a recovery view, the bull camp in gold might feel like they have a number of themes operating in their favor today. Continue Reading…

Bonds Market Analysis

Posted Mar 8 2012

Not surprisingly, the US Treasury market has started out under modest pressure this morning, as there appears to have been a return to a risk-on environment once again. In addition to generally supportive US scheduled data flows yesterday, the global markets generally seem to be pricing in a favorable result from the upcoming Greek debt swap event. Continue Reading…

Coffee Market Analysis

Posted Mar 8 2012

May coffee has been able to post a modest gain this morning but remains fairly close to yesterday’s 15-month lows. Improving macro-economic sentiment from expectations that Greece will be able to complete their debt swap has helped to lift coffee as well as other physical commodity markets. Continue Reading…