Hopes are growing for a new trade pact/agreement with China clearing more hurdles and, perhaps, culminating a little before, on, or shortly after the G-20 meetings scheduled for November 30 in Buenos Aires…………………………Good news from the Korean Peninsula may coincide and we may be facing a new year with bright trade prospects……………………………..
Corn and bean harvest is approaching completion as is winter wheat seeding………….The weather focus turns to Brazil, Argentina and Australia………………………Some interest might still remain in the Plains and Midwest as temperatures drop with a lack of snow cover…………………..International stocks/use ratio could be considered as historically tight in wheat so any fear and/or reality of winter kill might have a friendly influence on prices……………But, at this stage of development we need to experience sub zero temperatures for extended periods to hurt the crown which might be a little more insulated than usual given the adequate to surplus topsoil and subsoil moisture throughout the Plains and Midwest……………..Of course, a blanket of snow cover is welcome…………………..Yet, there might be fear and trepidation with every cold front until we get some snow………………
It appears as though we are marking time waiting for fresh news………………Rollover before December deliveries could be the major market focus and will intensify as we approach the Thanksgiving holiday, next Thursday! Feeders and millers might become a little more aggressive with extended coverage if we slip sub 360 CZ and 480 WZ and we need a lot to the upside 425 CT, 1000 SS, and 600 WN to generate any selling interest from the producer……………………………
The information contained on this site is the opinion of the writer and obtained from sources cited
within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices.
Steve Bruce
Walsh Trading
312 985 0156
888 391 7894 toll free
312 256 0109 fax
sbruce@walshtrading.com
www.walshtrading.com
Walsh Trading
53 W Jackson Suite 750
Chicago, Il 60604
Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (“WTI”) shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.