MIDWEST MARKET SOLUTIONS
July 2, 2009
By: Brian Hoops, President
HEADLINES
*The 6-10 day forecast has normal to above
normal temperatures moving into the cornbelt,
however precipitation is expected to also be
normal to above normal.
*July 4th Holiday Schedule: All markets close
normal time on Thursday July 2nd. Grain and
Livestock markets are closed Thursday evening
and Friday July 3rd.
*Next USDA supply/demand report is July 10 at
7:30 am ct.
OPENING CALLS
Corn: 3 to 5 lower.
• South Korea purchased 55,000 mts of U.S. corn.
• December corn has resistance at $3.75 with
support at $3.52.
Soybeans: 15 to 20 lower.
• November soybeans rallied to a 50% retracement
of the June decline at $10.21.
• November soybeans have chart resistance at
$10.17 and support at $9.44.
Wheat: 3 to 5 lower.
• Japan purchased 108,000 mts of wheat at its
weekly tender.
• September Chicago wheat has resistance at
$5.57 and support at $5.27.
Live and Feeder Cattle: 15 to 30 lower.
• Showlists are estimated at 300,300 head; down
21,000 head from a week ago.
• Bids are $81 with asking prices at $86.
• August live cattle have chart resistance at
$86.37 and support at $83.40.
Lean Hogs: 5 to 10 higher.
• Cash calls are steady.
Our newsletter this week is titled "Window of
Opportunity."
Highlights of this newsletter include:
* Is the "window of opportunity" for marketing
beginning to close?
* Which grain market has closed below a long
term uptrend line.
* Which grain market continues to have large
commercial selling.
* Updates on hedge recommendations for corn and
soybeans.
* Updated technical charts, including a possible
double bottom in the US Dollar.
* A look at a possible bottom in the cattle
market.
* A look at the quarterly hog and pig report.
* A look at a report on index trader positions
in the wheat market.
* The latest Stats Canada report.
* A new record at the MGEX.
* All this and much more.
For more information visit our website at
www.midwestmarketsolutions.com.
Clients receive web access as a free service,
access is available for a
small monthly fee to non-clients.
Services available at Midwest Market Solutions:
* Full Service Brokerage
* Market Solutions Hedge Program
* Daily written market commentary
* Daily written trade recommendations
* Audio market commentaries
* Market Insider Newsletter
* Midwest Managed Futures Trading Program
* Professional Trading Systems
The risk of loss in trading commodity futures
may be substantial and therefore may not be
suitable for the recipients of this information.
Those acting on this information are responsible
for their own actions.
Copyright 2009 Midwest Market Solutions, Inc. |
