It will be a surprise if the Federal Reserve does not raise rates tomorrow!
South American weather is bearish for corn and beans and supportive for wheat…………………..some are saying that it’s tough to be short whea tright now as soft red wheat off the US Gulf is the cheapest in the world and the trade is always afraid of what can happen in the Black Sea when the price of crude oil gets cheap…………………. There are some entities in the World which do not benefit from lower energy prices.
As we approach the end of the week we might anticipate a crescendo in trade as many traders/entities might be short staffed on Monday as we close early and are closed all day next Tuesday for Christmas…………………..World unrest,trade pacts and South American weather might remain the focus of the trade after we get the Federal Reserve decision and announcement ….
We are still of the opinion that corn and bean spreads might have a difficult time tightening and more probable of slowly widening as world crop size increase and the need to move stocks stored outside increases………Wheat is totally different as Argentina quality is lessening and this might work into our spreads…..We still like KWN/WN under even money………..
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.
Join
My Mailing List
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.