Cocoa Market AnalysisJuly cocoa remains under pressure this morning, although prices have been able to hold above Monday’s spike low. Negative outside market factors are clearly weighing on cocoa prices this week, as the Dollar has climbed to a new 4-month high while global equity markets continue to slide lower. Continue Reading… Natural Gas Market AnalysisJune natural gas prices traded higher during the initial morning hours, building off of yesterday’s bullish outside day reversal. In fact, the early gains were challenging last week’s high of $2.531 at the time of writing. Continue Reading… Wheat Market AnalysisJuly wheat was trading 1 3/4 cents lower late in the overnight session. Outside market forces look negative today with a jump in the USD and weakness in metal and energy markets. Crude Oil Market AnalysisJune crude oil prices began the Tuesday evening trade with a gap lower open and continued to fall to their lowest level since early November. A number of factors have contributed to the $14.60 break from the May 1st peak to the overnight low, including uncertainty over the European debt situation and signs of slowing global growth. Continue Reading… Cotton Market AnalysisEven while outside markets shifted back to a negative force yesterday, cotton managed to hold on to a small gain. At least for the short-term, the market seems to have priced-in a large crop and a poor demand outlook just ahead. Continue Reading… Bonds Market AnalysisNot surprisingly, US Treasuries have carved out another fresh new high for the move overnight. One almost gets the sense that the current flight to quality condition is poised to reach somewhat epic proportions, as the situation in Europe has taken on the appearance of a Gordian knot. Continue Reading… Gold Market AnalysisThe hard down action has continued with June gold seemingly failing at a series of chart points overnight. Ongoing fear of slowing off the turmoil in the Euro zone has remained the primary focus, but fears of slowing growth in China and deceleration in the US economy are also issues prompting many longs to exit gold and other physical commodity positions. Continue Reading… Sugar Market AnalysisThe market remains in an oversold condition as the outlook for another world production surplus for the 2012/13 season has helped to pressure. Weakness in energy and metal markets and a strong US dollar has added to the negative tone. Continue Reading… Corn Market AnalysisJuly corn was trading 3 cents lower late in the overnight session. Outside market forces are clearly bearish with a sharp drop in metal and energy markets, a higher USD and a sharp break in China stock markets. Continue Reading… Copper Market AnalysisA significant range down extension in copper prices overnight would seem to confirm ongoing fears that the global economy might be tumbling back toward recession. When one adds into the equation what appears to be an unending financial debacle in the Euro zone, it is not surprising to see copper and physical commodity prices carving out what appears to be a deflationary washout. Continue Reading… |