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August 3rd, 2018 Newsletter

Do you have what it takes when it comes to trading? Now you can prove it with our trading challenge! Sign up for the contest and read more about the prizes and rules.

August 3rd, 2018 - Issue #930

In This Issue

1. Trading Challenge - Do you have what it takes?
2. Hot Market Report: Wheat Futures
3. Economic Calendar

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1. Trading Challenge - Do you have what it takes?

Trading Competition

Start: August 19th at 5 PM CT

End: August 31st at 4 PM CT

Prizes (Commission Credits)

First Place: $1,000

Second Place: $500

Third Place: $250

Competition Details

  • All trades will be completed in the GAIN Trader Simulated Trading Environment using the white-labeled Contest Trader application
  • All traders will begin with a virtual account of $100,000. Your goal: increase the balance to as much as possible by the conclusion of the competition
  • Choose to trade from CME Group’s Gold(GGC), Crude Oil(GCL), Corn(ZC), Wheat(ZW), Soybean(ZS) products, and the 10-year treasury note(ZN)
  • Top three traders with the highest P&L balance at the end will get commission credits towards their live account trading post the contest
  • Contestants do not need to have a current live or active account, but the commission credits to the winners will only be credited to live trading on GAIN Capital Futures accounts

Rules/Guidelines

  • This trading completion is limited to non-professional individuals only. Entities and NFA registered persons are not eligible
  • Simulated commission charges set at $5.00 per side inclusive of fees
  • Only 1 demo account is permitted per client for the contest
  • Futures only will be traded
  • Top 10 rankings will be updated prior to the next trading day on https://gainfutures.com/ at close of market, with the winners announced Tuesday September 4, 2018
  • Using the Contest Trader front-end trading application will be mandatory amongst all contestants

 

Do you have what it takes?

 

Good Trading

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Important: Trading commodity futures and options involves a substantial risk of loss. The recommendations contained in this letter are of opinion only and do not guarantee any profits. There is not an actual account trading these recommendations. Past performances are not necessarily indicative of future results.

2. Hot Market Report: Wheat Futures Bouncing Higher

By Ilan Levy-Mayer

Click on image below to enlarge

Wheat futures; Wheat has been the strongest of the grain sector for the past few months. Grain futures prices were mixed recently. U.S.-China trade worries are pressuring soybeans, but corn and wheat are supported on good world supply-and-demand fundamentals. The next big report for the grains is the August 10 monthly supply-and-demand report. Weather in the Corn Belt is still mostly benign. No serious weather markets have occurred this summer and the clock is ticking for such to occur.
Weekly chart of wheat futures for your review from this morning ( August 3rd 2018). You can see the market has been making fresh 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: $1705 initial, $1550 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
Wheat is one of my favorite markets for Day Trading because of the intraday range and movements. Be careful, these factors can work against you or in your favor.
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
08/03
Fri
7:30 AM CDT - Ave Workweek & Hourly Earnings(Jul)
7:30 AM CDT - Nonfarm Payrolls(Jul)
7:30 AM CDT - Trade Balance(Jun)
7:30 AM CDT - Unemployment Rate(Jul)
9:00 AM CDT - ISM Services(Jul)
LT: Aug Canadian Dollar Options(CME)
Aug Currencies Options(CME)
Aug Mx Peso Options(CME)
Aug Live Cattle Options(CME)
Aug US Dollar Index Options(ICE)
Sep Cocoa Options(ICE)
08/06
Mon

 
 
 
FN: Aug Live Cattle(CME)
 
 
 
08/07
Tue
9:00 AM CDT - JOLTS-Job Openings(Jun)
2:00 PM CDT - Consumer Credit(Jun)
3:30 PM CDT - API Energy Stocks
 

 
 
 
08/08
Wed
6:00 AM CDT - MBA Mortgage Index
9:30 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Diary Products Sales
 
LT: Sep Sugar-16(ICE)
 
 
 
08/09
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Core PPI & PPI(Jul)
9:00 AM CDT - Wholesale Inventories(Jun)
9:30 AM CDT - EIA Natural Gas Report
3:30 PM CDT - Money Supply
FN: Sep Sugar-16(ICE)
 
 
 
08/10
Fri
7:30 AM CDT - Core CPI & CPI(Jul)
11:00 AM CDT - WASDE Report & Crop Production
1:00 PM CDT - Treasury Budget(Jul)
 
LT: Aug Eurodollar Options(CME)
Sep Coffee Options(ICE)

 
08/13
Mon

 
 
 
LT: Aug Eurodollar(CME)
Aug Mx Peso(CME)

 
08/14
Tue
7:30 AM CDT - Export(ex-ag) & Import(ex-oil) Prices(Jul)
3:30 PM CDT - API Energy Stocks
 
 
LT: Aug Lean Hogs(CME)
Aug Soybeans,Soymeal,Soyoil(CBT)
Aug Lean Hogs Options(CME)
08/15
Wed
6:00 AM CDT - MBA Mortgage Purchase Index
7:30 AM CDT - Empire Manufacturing(Aug)
7:30 AM CDT - Productivity-Prel(Q2)
7:30 AM CDT - Retail Sales(Jul)
7:30 AM CDT - Retail Sales Ex-Auto(Jul)
7:30 AM CDT - Unit Labor Costs-Prelim(Q2)
8:15 AM CDT - Capacity Util & Industrial Prod(Jul)
9:00 AM CDT - Business Inventories(Jun)
9:00 AM CDT - NAHB Housing Market Index(Aug)
9:30 AM CDT - EIA Petroleum Status Report
11:00 AM CDT - NOPA Crush
2:00 PM CDT - Dairy Products Sales
3:00 PM CDT - Net Long-Term TIC Flows(Jun)
LT: Sep Platinum Options(NYM)
Sep Palladium Options(NYM)
Sep Sugar-11 Options(ICE)

08/16
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Building Permits & Housing Starts(Jul)
7:30 AM CDT - Philadelphia Fed(Aug)
9:30 AM CDT - EIA Natural Gas Report
3:30 PM CDT - Money Supply
LT: Sep Crude Lt(NYM)
 
 
 
FN=First Notice, OE=Option Expiration, LT=Last Trade

Disclaimer: This calendar is compiled from sources believed to be reliable. Moore Research Center, Inc. assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The release dates for certain economic reports may have been rescheduled.

* 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!

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