July 6th, 2012 - Issue #643
In This Issue
1. Trader's Resource Corner
2. Drought fears driving grain markets - Hot Market Report
3. Economic Calendar
Featured Articles This Week
a. How to Spot Trading Opportunities -- complimentary 47-page eBook
Elliott Wave International
1. Traders Resource Corner
A. Are you trading stock index futures like mini SP500? If so, make sure you know what earnings are coming up and can move the market you are trading
B. Energy Complex Margin IncreasesSee the margin update notice here
2. Scorching Heat in Corn Belt Powers Grain Bulls
By Jim Wyckoff
The major weather market in the grains is accelerating as hot, dry weather envelopes most of the U.S. Corn Belt, with little relief in sight. December corn futures prices pushed above $7.00 a bushel Thursday, while soybean futures moved above major psychological resistance at the $15.00 level. From a time perspective, history shows the bull market runs in the grain markets will end sooner than most traders would imagine. Remember that futures markets factor in expected events well before those events conclude. Its going to be a highly volatile month of July in the grain markets. Expect fireworks on the upside and on the downside, as markets can turn on a dime during weather market scares. The weather forecasts for the U.S. Corn Belt will continue to be the trump card in the grain futures markets for at least the next couple weeks. Stay tuned!
Disclaimer:
Trading commodity futures and options involves substantial risk of loss. The recommendations 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 futures 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!
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 07/09 Mon |
2:00 PM CDT - Consumer Credit(May) | LT: Jul Cotton(NYM) |
| 07/10 Tues |
||
| 07/11 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index
7:30 AM CDT - Dairy Products Prices 7:30 AM CDT - WASDE Report & Crop Production 7:30 AM CDT - Trade Balance(May) 9:00 AM CDT - Wholesale Inventories(May) 9:30 AM CDT - API & DOE Energy Stats 1:00 PM CDT - FOMC Minutes |
LT: Jul Orange Juice(ICE) |
| 07/12 Thurs |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Export & Import Prices(Jun) 9:30 AM CDT - EIA Gas Storage 1:00 PM CDT - Treasury Budget(Jun) 3:30 PM CDT - Money Supply |
|
| 07/13 Fri |
7:30 AM CDT - Core PPI & PPI(Jun)
8:55 AM CDT - Mich Sentiment(Jul) |
LT: Jul Corn(CBT)
Jul Wheat(CBT) Jul Oats(CBT) Jul Rough Rice(CBT) Jul Soybeans,Soyoil,Soymeal(CBT) Jul Lumber(CME) Jul Eurodollar Options(CME) Aug Coffee Options(ICE) |
| 07/16 Mon |
7:30 AM CDT - NOPA Crush
7:30 AM CDT - Empire Manufacturing(Jul) 7:30 AM CDT - Retail Sales(Jun) 9:00 AM CDT - Business Inventories(May) |
FN: Jul Lumber(CME)
LT: Jul Eurodollar(CME) Jul Lean Hogs(CME) Jul Lean Hogs Options(CME) Aug Sugar-11 Options(NYM) |
* 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!
