Morning Express: Jan. 27, 2020
U.S benchmarks gapped lower last night and selling pressure picked up again when Europe opened. In China, the confirmed Coronavirus death toll has topped 80 and the number of confirmed cases is nearing 3000. The two major concerns driving sentiment are the thump to growth figures and the incubation period of the virus. First, we imagine the growth scare is exacerbated in the near-term and smoothed out over the long-term.
January 27, 2020
Technical Analysis Heading into Monday’s Open: Jan. 27, 2020
Soybean (ZS) Retraces Nearly All of December Bounce
Grain Express: Jan. 24, 2020
Corn futures caught a bid yesterday on some good export news, sales of 255,224 metric tons to Guatemala and Unknown (presumably South Korea) were reported. Export sales this morning came in at 1,006,900 metric tons, 28% higher than last week and 92% above the 4-week average.
Blue Line Breakfast Report – January 23, 2020
The 2nd best commodity out of the basket of 48 we monitor at Blue Line Futures and up over 10%% on the year. Cocoa closed sharply lower on the session after posting the highest print since April 2018 and with four straight weeks worth of gains this market feels like it needs to catch its breath.
USDCAD Weekly MACD Trying to Positively Cross
Stuck on Happy Ways
Since yesterday, the death toll from the coronavirus has increased to nine and the number of confirmed cases has increased to 440. You know what else has increased? The futures for the major indices. Currently, the S&P futures are up 13 points and are trading 0.4% above fair value.
Morning Express: Jan. 22, 2020
The market likes President Trump and U.S benchmarks surged late last night as it became clearer the Republican-controlled Senate would vote along party lines. The GOP rejected attempts by Democrats to subpoena documents and witnesses related to Ukraine.
Pipelines Slowly Returning Cash
The Coming Pipeline Cash Gusher remains the strongest bull case for midstream energy infrastructure. A trend towards returning more cash to investors is taking hold though.
January 22, 2020
Technical Analysis Heading into Wednesday’s Open: Jan. 22, 2020
Key Geopolitical Risks to Oil in 2020
The areas of greatest concern today tilt primarily to upside risk to prices, particularly with an easing of U.S.–China trade tensions. However, there are regions and scenarios we do not have the space here to discuss, we expect new risks will likely emerge, and not all risks will be price-bullish.
WTI Crude (CL) Testing 50% Fib Retrace of Oct-Jan Rally
FX Rundown: January 21, 2020
Grain Express: Jan. 21, 2020
March corn futures rallied hard on Friday, erasing all of Thursday’s losses and then some. Rumors that China secured multiple cargoes of US corn helped offer support, but there hasn’t been confirmation on that yet.
S&P500 (ES) Daily MACD Trying to Negatively Cross
Corn (ZC) Completes 2nd Straight Weekly Hammer
Dollar Weakness Could Be the Catalyst Commodities Are Looking For
Arabica Coffee (KC) Testing 61.8% Fib Retrace of Oct-Dec Rally
Blue Line Breakfast Report: Sugar Cocoa Coffee OJ – January 16
Early Look: Thursday, January 16, 2020
Stocks futures are moving higher, on track for new record highs for U.S. stocks a day after record setting territory for major averages as Donald Trump signed a US-China trade deal that has allayed fears of an extended trade year.
EURUSD Daily MACD Trying to Positively Cross
Grain Express: Jan. 15, 2020
Corn futures were mute yesterday as the market ran out of new news to break prices out above technical resistance. Today is the signing of the highly anticipated Phase-1 trade agreement. It will be nice to get some clarity on the “trade deal”, but I wouldn’t hold your breath for something magical to happen. My guess is that Phase-1 is largely an agreement to proceed to Phase-2.
January 15, 2020
Technical Analysis Heading into Wednesday’s Open: Jan. 15, 2020
FX Rundown: January 14, 2020
Breakfast Report: Jan. 14, 2020
Sugar continues to surprise to the upside with global production issues coming front and center. If we see an uptick in energy futures this could be the spark needed to take out some of the key levels from the past. Traders should be long from the high 13.70’s low 13.80’s and moving stops up to break even at this point.