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Archive for June 6th, 2012

European Markets Summary

Posted Jun 6 2012

London Stocks End Sharply Higher; Fed Eyed

FTSE 100 closes 2.4% higher at 5384.11, amid signs that efforts are being stepped up to help Spain’s ailing banking sector. At the same time, expectations of further stimulus by the US Fed are mounting. “It’s now down to Ben Bernanke tomorrow to provide a further boost to the markets in order to keep the recent rally going,” a trader says. Continue Reading…

Soybeans Market Analysis

Posted Jun 6 2012

July soybeans were trading 15 1/2 cents higher near 7:30 cst. China futures closed up 0.7% after a 1% jump the previous session and Palm oil futures in Malaysia were up 1.3%. Hong Kong shares managed more short covering gains overnight, while Shanghai equities simply marked time again on the charts. Continue Reading…

Silver Market Analysis

Posted Jun 6 2012

With a sharp upside extension and breakout on the charts overnight, July silver has reached the highest level since May 10th. Like gold and global equity markets, the silver trade seems to be anticipating action from the ECB. Continue Reading…

Cocoa Market Analysis

Posted Jun 6 2012

July cocoa has given back a sizable portion of yesterday’s sharp rebound but still remains well above this week’s lows for the move this morning. A “risk on” market attitude is gaining momentum throughout global markets, which should help to limit cocoa’s downside early in the session. Continue Reading…

Natural Gas Market Analysis

Posted Jun 6 2012

July natural gas prices spent the overnight and early morning hours waffling around unchanged levels. The market experienced impressive follow-through action during yesterday session, as it closed in on resistance at $2.50. Continue Reading…

Wheat Market Analysis

Posted Jun 6 2012

July wheat was trading 5 cents higher near 7:30 am cst. Outside market forces look very supportive today with a break in the USD and a surge higher in equity and metal markets. The market saw a recovery bounce yesterday and the turn up in outside markets could provide solid support today. Continue Reading…

Cotton Market Analysis

Posted Jun 6 2012

Similar to Friday, the market saw a late sell-off to close sharply lower on the day basis the July futures. Outside market forces were somewhat supportive yesterday and look strong for today but the outlook for a massive ending stocks total for the world continues to hang over the market. Continue Reading…

Crude Oil Market Analysis

Posted Jun 6 2012

July crude oil prices traded higher throughout the overnight and early morning hours, boosted by stronger-than-expected economic growth in Australia and on expectations that global central bankers are closer to offering support. Continue Reading…

Bonds Market Analysis

Posted Jun 6 2012

One didn’t even have to look at the September bond chart this morning to derive the direction of Treasury prices, as a continued shift back toward a risk-on vibe and away from a safe haven mode was already underway in the wake of the US scheduled data release yesterday morning. Continue Reading…

Gold Market Analysis

Posted Jun 6 2012

A noted range up extension and definitive upside breakout on the charts in August gold this morning would seem to confirm renewed bullish interest in gold. The gold market seems to be drafting most of its current strength off anticipation of easing from the ECB and with that decision due in early this morning at 6:45 central standard time, one could suggest that gold is already pricing in at least a portion of an easing move. Continue Reading…

Sugar Market Analysis

Posted Jun 6 2012

After the massive break from the March highs, the sugar market looks vulnerable to an impressive short-covering bounce. Macro economic fund traders have pressed the short-side for key economic and energy-based commodity markets like sugar and any turn up in global stock markets or down in the USD could spark significant short-covering. Continue Reading…

Corn Market Analysis

Posted Jun 6 2012

July corn was trading 6 1/4 cents higher into 7:30 AM central time. Outside market forces look bullish today with a surge up in equity markets, weakness in the USD and strength in metal and energy markets. Continue Reading…