7 things to know before trading Wheat Futures 4.19.2018
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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Author: Joseph Easton, Senior Broker at Cannon Trading
Dear Traders,
- The Basics:
There are two types of Wheat most commonly traded…
“Chicago Soft Red Winter (SRW) and KC Hard Red Winter (HRW) are the global industry standards for wheat. Chicago SRW Wheat is the most liquid Wheat futures contract in the world, trading the equivalent of more than 15 million tons each day in 2013-9 ½ times more than the largest European contract. Producers, processors, millers and exporters continue to look to Chicago SRW and KC HRW Wheat for the liquidity that is critical for any risk management solution.
Liquidity means that you can execute positions quickly, effectively and efficiently. Liquidity offers more flexibility in structuring hedging strategies to meet your timing and market needs. And when the world is facing new challenges in Wheat risk management, liquidity provides the security you need in order to respond with confidence” – CME Group
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.
Futures Trading Levels
4-19-2018
| Contract June 2018 | SP500 #ES_F | Nasdaq100 #NQ_F | Dow Jones #YM_F | Mini Russell #RTY_F | BitCoin Index #XBT_F |
| Resistance 3 | 2732.17 | 6945.00 | 24939 | 1607.57 | 8515.03 |
| Resistance 2 | 2725.33 | 6906.00 | 24874 | 1601.73 | 8335.44 |
| Resistance 1 | 2717.42 | 6874.75 | 24803 | 1594.57 | 8224.08 |
| Pivot | 2710.58 | 6835.75 | 24738 | 1588.73 | 8044.49 |
| Support 1 | 2702.67 | 6804.50 | 24667 | 1581.57 | 7933.13 |
| Support 2 | 2695.83 | 6765.50 | 24602 | 1575.73 | 7753.54 |
| Support 3 | 2687.92 | 6734.25 | 24531 | 1568.57 | 7642.18 |
| Contract | June Gold #GC_F | May Silver #SI-F | June Crude Oil #CL-F | June Bonds #ZB_F | June Euro #6E_F |
| Resistance 3 | 1373.2 | 17.95 | 72.00 | 146 13/32 | 1.2513 |
| Resistance 2 | 1366.1 | 17.61 | 70.45 | 146 4/32 | 1.2482 |
| Resistance 1 | 1359.2 | 17.41 | 69.64 | 145 13/32 | 1.2457 |
| Pivot | 1352.1 | 17.07 | 68.09 | 145 4/32 | 1.2426 |
| Support 1 | 1345.2 | 16.86 | 67.28 | 144 13/32 | 1.2401 |
| Support 2 | 1338.1 | 16.52 | 65.73 | 144 4/32 | 1.2370 |
| Support 3 | 1331.2 | 16.32 | 64.92 | 143 13/32 | 1.2345 |
| Contract | May Corn #ZC_F | May Wheat #ZW_F | May Beans #ZS_F | May SoyMeal #ZM_F | May Nat Gas #NG_F |
| Resistance 3 | 387.5 | 485.8 | 1062.50 | 388.30 | 2.83 |
| Resistance 2 | 385.5 | 480.9 | 1057.25 | 385.60 | 2.81 |
| Resistance 1 | 384.3 | 478.1 | 1049.50 | 381.10 | 2.78 |
| Pivot | 382.3 | 473.2 | 1044.25 | 378.40 | 2.76 |
| Support 1 | 381.0 | 470.3 | 1036.5 | 373.9 | 2.7 |
| Support 2 | 379.0 | 465.4 | 1031.25 | 371.20 | 2.70 |
| Support 3 | 377.8 | 462.6 | 1023.50 | 366.70 | 2.67 |
Economic Reports, source:
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 here in 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 judgement in trading.
