October 18th, 2019 - Issue #986
In This Issue
1. Day-Trading Alerts via Text Directly to Your Phone FREE TRIAL ($249 value)
2. Hot Market Report: CBOT Wheat - Heed the Rally
3. Economic Calendar
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1. Day- Trading Alerts via Text Directly to Your Phone FREE TRIAL ($249 value)
3 Weeks FREE TRIAL
The real time trade alerts FREE 3-week trial uses a combination of proprietary information technical studies, trading ALGOS and a few popular indicators for confirmation.
You will receive a text and email each time there is an entry or exit in a simple language along with the current price for that specific market.
Text alerts available to US and Canada residents. Int'l clients will receive the alerts via email.
Real-time trade signals via text available for the following markets:* Gold, silver, copper, platinum
* mini SP, mini Nasdaq, mini Dow, mini Russell
* Major currenciey pairs
* Wheat, Beans, Soymeal, Bean oil
* Crude oil, RBOB, Heating oil, Natural gas
* 30 year Bonds and 10 year Notes
* Hogs, Cattle
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2. Hot Market Report: CBOT Wheat - Heed the Rally
By Mark O'Brien, Senior BrokerClick on image below to enlarge
This week’s highlighted Market is Wheat futures. Wheat is part of the grains sector along with "it's" brothers soybeans, corn, oats, soymeal, bean oil, Kansas City Wheat. Most traded on the CBOT exchange.
July 19. That’s the date CBOT wheat last traded at $5.27 a bushel. Between then – three months ago – and yesterday’s $5.25 ½ close, the Dec. contract declined to $4.50 ½ on Sept. 3 – within striking distance of its $4.42 ¼ life-of-contract low of in early May. Most reports attributed wheat’s rise to rising global cash prices. Take caution. Albeit slightly later in completion this crop year, the U.S. harvest of spring wheat ended last month with little fanfare and as is its tendency, supply pressures eased, only to rise in Oct. on surging export prices. The next phase in wheat’s seasonality is the anticipation of new supplies from harvests in Australia and Argentina in December and January. While some news of reduced crops due to dryness in both regions has surfaced, take caution bulls – at least for the coming weeks.Weekly chart of wheat futures for your review from this morning ( October 18th 2019). You can see the market has been making recent highs on the weekly time frame, however it has reached a FIB extension level and seems a bit "toppy" at the moment. That does not mean the market can not go higher but maybe look for a pullback first.
To access a free trial to the ALGOS shown in the chart visit and sign up for a free trial for 21 days with real-time data.
Chicago Wheat Futures Specs
Hours: 7:00 PM to 1:20 PM next day PM Central Time
Margins: $1595 initial, $1450 Maint. ( as of the date of this newsletter)
Point Value: full Cent = $50.00 ( Example: $5.60 to $5.61/bu ). Min fluctuation is 2/8ths of a cent = $12.50 ( Example: 5.60 -5.602) Settlement: Deliverable, FND is last business day preceding the contract month
Months: March (H), May (K), July (N), September (U,) December(Z)
Weekly Options:YES
Some of the basic fundamentals to keep in mind when you are considering trading ZW or other Wheat contracts, KE (Kansas City or MWE (Minneapolis Wheat:
1. Longer term view of current market prices
2. Dates and times of important reports. WASDE, Planting intentions, Crop progress
3. Weather
4. Global Political situation (food often used as a weapon in trade)
Our brokers here at Cannon will be happy to chat about the Wheat market, other grains, other futures, options, futures spreads and much more! Feel free to contact us at any time.
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 10/18 Fri |
7:30 AM CDT - USDA Weekly Export Sales
9:00 AM CDT - Leading Indicators(Sep) |
LT: Oct Nikkei Options(CME)
Nov Cotton Options(NYM) Nov Orange Juice Options(ICE) |
| 10/21 Mon |
3:00 PM CDT - Crop Progress
|
|
| 10/22 Tue |
9:00 AM CDT - Existing Home Sales(Sep)
2:00 PM CDT - Cold Storage 3:30 PM CDT - API Energy Stocks |
LT: Nov Crude Lt(NYM)
|
| 10/23 Wed |
6:00 AM CDT - MBA Mortgage Index
8:00 AM CDT - FHFA Housing Price Index(Aug) 9:30 AM CDT - EIA Petroleum Status Report 2:00 PM CDT - Dairy Products Sales |
|
| 10/24 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Durable Goods-Ex Transportation(Sep) 7:30 AM CDT - Durable Orders(Sep) 9:00 AM CDT - New Home Sales(Sep) 9:30 AM CDT - EIA Natural Gas Report 3:30 PM CDT - Money Supply |
FN: Nov Crude Lt(NYM)
|
| 10/25 Fri |
9:00 AM CDT - Univ of Mich Consumer Sent-Final(Oct)
2:00 PM CDT - Cattle On Feed |
LT: Oct Bitcoin(CME)
Nov 2,5,10 Year Notes Options(CBT) Nov Bonds Options(CBT) Nov Canola Options(CBT) Nov Wheat Options(CBT) Nov Corn Options(CBT) Nov Oats Options(CBT) Nov Rough Rice Options(CBT) Nov Soybeans,Soymeal,Soyoil Options(CBT) |
| 10/28 Mon |
7:30 AM CDT - Adv Intl Trade In Goods(Sep)
7:30 AM CDT - Adv Retail Inventories(Sep) 7:30 AM CDT - Adv Wholesale Inventories(Sep) 3:00 PM CDT - Crop Progress |
LT: Nov Copper Options(CMX)
Nov Gold & Silver Options(CMX) Nov Natural Gas Options(NYM) Nov RBOB & ULSD(NYM) |
| 10/29 Tue |
8:00 AM CDT - S&P Case-Shiller Home Price Index(Aug)
9:00 AM CDT - Consumer Confidence(Oct) 9:00 AM CDT - Pending Home Sales(Sep) 3:30 PM CDT - API Energy Stocks |
LT: Oct Butter(CME)
Oct Milk(CME) Oct Copper(CMX) Oct Gold & Silver(CMX) Oct Platinum & Palladium(NYM) Nov Natural Gas(NYM) Oct Butter Options(CME) Oct Milk Options(CME) |
| 10/30 Wed |
6:00 AM CDT - MBA Mortgage Index
7:15 AM CDT - ADP Employment Change(Oct) 9:30 AM CDT - EIA Petroleum Status Report 1:00 PM CDT - FOMC Rate Decision(Oct) 2:00 PM CDT - Dairy Products Sales |
FN: Nov Natural Gas(NYM)
|
| 10/31 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Employment Cost Index(Q3) 7:30 AM CDT - Personal Income & Spending(Sep) 8:45 AM CDT - Chicago PMI(Oct) 9:30 AM CDT - Natural Gas Report 3:30 PM CDT - Money Supply |
FN: Nov Copper(CMX)
Nov Gold & Silver(CMX) Nov Platinum & Palladium(NYM) Nov Canola(CBT) Nov Rough Rice(CBT) Nov Soybeans(CBT) LT: Oct Feeder Cattle(CME) Oct Fed Funds(CME) Oct Live Cattle(CME) Nov RBOB & ULSD(NYM) Oct Feeder Cattle Options(CME) Oct Fed Funds Options(CME) Nov Lumber Options(CME) |
| FN=First Notice, OE=Option Expiration, LT=Last Trade | ||
* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.
** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!
