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La Niña: Calm Before the Storm in Ag Markets?
By Erik Norland, Senior Economist, CME Group
Highlights
- Ag options’ implied volatility remains exceptionally low despite La Niña
- Could be due to decline in U.S. status as predominant global grain exporter
- Economic conditions could temper impact of La Niña as in 2009, 2010
- La Niña might not further depress already low grain prices
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
2-22-2018
| Contract March 2018 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | BitCoin Index |
| Resistance 3 | 2783.25 | 6979.83 | 25610 | 1579.03 | 12163.33 |
| Resistance 2 | 2765.50 | 6932.67 | 25433 | 1568.27 | 11751.67 |
| Resistance 1 | 2731.00 | 6839.33 | 25090 | 1547.83 | 11043.33 |
| Pivot | 2713.25 | 6792.17 | 24913 | 1537.07 | 10631.67 |
| Support 1 | 2678.75 | 6698.83 | 24570 | 1516.63 | 9923.33 |
| Support 2 | 2661.00 | 6651.67 | 24393 | 1505.87 | 9511.67 |
| Support 3 | 2626.50 | 6558.33 | 24050 | 1485.43 | 8803.33 |
| Contract | Apr. Gold | Mar. Silver | Apr. Crude Oil | Mar. Bonds | Mar. Euro |
| Resistance 3 | 1349.6 | 17.10 | 62.59 | 145 9/32 | 1.2444 |
| Resistance 2 | 1344.0 | 16.92 | 62.23 | 144 23/32 | 1.2412 |
| Resistance 1 | 1335.5 | 16.69 | 61.65 | 143 24/32 | 1.2364 |
| Pivot | 1329.9 | 16.52 | 61.29 | 143 6/32 | 1.2333 |
| Support 1 | 1321.4 | 16.29 | 60.71 | 142 7/32 | 1.2285 |
| Support 2 | 1315.8 | 16.11 | 60.35 | 141 21/32 | 1.2253 |
| Support 3 | 1307.3 | 15.88 | 59.77 | 140 22/32 | 1.2205 |
| Contract | Mar. Corn | Mar. Wheat | March Beans | Mar. SoyMeal | Mar. Nat Gas |
| Resistance 3 | 371.3 | 455.8 | 1051.58 | 401.53 | 2.82 |
| Resistance 2 | 369.9 | 453.9 | 1044.92 | 393.47 | 2.75 |
| Resistance 1 | 367.8 | 450.6 | 1039.58 | 387.23 | 2.70 |
| Pivot | 366.4 | 448.7 | 1032.92 | 379.17 | 2.63 |
| Support 1 | 364.3 | 445.3 | 1027.6 | 372.9 | 2.6 |
| Support 2 | 362.9 | 443.4 | 1020.92 | 364.87 | 2.52 |
| Support 3 | 360.8 | 440.1 | 1015.58 | 358.63 | 2.47 |
Economic Reports, source:
http://app.bettertrader.co
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.