Wishing all our clients and newsletter readers a safe and happy 4th of July.
Most markets have normal trading hours on Friday, July 1st
• Grains and Meats will resume trading Tuesday morning
• Metals, energies, stocks, currencies will open Sunday night and HALT trading Monday morning and then resume trading Monday evening
• Full schedule on: our trading hours blog post
The corn market has been hammered lower the past couple weeks, to pour cold water on and douse a bull market run.
The corn market bears are in firm technical control heading into the U.S. Independence Day holiday weekend. The first few trading days following the July 4th holiday are extra important for the grain markets.
It's during that timeframe that existing price trends can be accelerated or reversed. It's also a timeframe when extended weather forecasts start to cover the critical pollination growth stage of the Corn Belt corn crop.
While the corn market bulls are presently badly mauled by the bears, don't be surprised if another weather scare suddenly pops up during early July.
* 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!