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Silver and Copper, Crude Oil, March – May Wheat Spread, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on December 4th, 2025

Posted on December 3, 2025 by Cannon Operations

What You Need to Know!

by Mark O’Brien, Senior Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Feb(#GC)	4198.13	4219.37	4246.33	4267.57	4294.53
Silver (SI) — Mar. (#SI)	57.49	58.22	58.94	59.66	60.38
Crude Oil (CL) — Jan (#CL)	57.77	58.44	59.04	59.71	60.31
Mar. Bonds (ZB) — Mar (#ZB)	115 30/32	116 9/32	116 19/32	116 30/32	117 8/32

General:

This morning’s November ADP jobs report was well into negative territory falling to the lowest levels since 2020. The payrolls processing firm reported private companies cut 32,000 workers, with small businesses hit the hardest.

The report’s data were worse than anticipated as the Dow Jones consensus estimate from economists was to see an increase of 40,000 and a sharp step down from October, which saw an upwardly revised gain of 47,000 positions.

The ADP report is the last monthly jobs picture the Federal Reserve gets before it meets Dec. 9-10. Futures traders are now assigning a nearly 90% probability that the central bank will approve another quarter percentage point cut, according to the CME Group FedWatch tool:

This month’s release of the Labor Department’s monthly non-farm payrolls report has been moved from its traditional first Friday of the month to Tuesday, December 16, 2025, 7:30 A.M., Central Time. The report is widely considered to be one of the most important and influential measures of the U.S. economy.

More General:

Last Friday, a vital data center used by CME Group, overheated and suffered a more-than-ten-hour outage, shutting down trading at the world’s largest derivatives exchange. On an average day, it processes equity indexes futures and options trades tied to $1.5 trillion of underlying assets, and interest-rate-related trades with a notional value of $9.6 trillion.

While the blow was softened because it came late on Thanksgiving Day, this was the longest outage in recent CME history.

Energies:

In a credible sign that the world’s largest crude importer is nearing peak demand, China’s oil consumption next year – although still growing – will be surpassed by India’s for the first time. This was forecast by Singapore-based Trafigura Group, the world’s second-largest oil trader.

A key component to this, they explain, is that China’s main demand driver for crude – its consumption of road fuels – is weakening as adoption of electric cars and, increasingly, electric trucks has grown rapidly.

Metals:

New front month March silver futures traded to new all-time highs today, trading intraday to $59.65½ per ounce. The move includes a ~$8.00 per ounce move since Mon. Nov 24, a ±$40,000 per contract move for the main 5,000-oz. futures contract.

Driven by persistent concerns over a tightening global supply, March copper futures surged ~15 cents per pound (±2.8%) and traded up to ~4-month highs near $5.40 per pound today.

March – May Wheat Spread

The March – May Wheat Spread satisfied the first upside PriceCount objective off the August low. The chart is reacting with a short-term correction, which is normal. At this point, if the spread can resume its rally with new sustained highs, the second count would project a possible run to the -5.5 area.

The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved.

It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com

Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.

Daily Levels for Dec. 4th, 2025

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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.

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Corn, Soybean, Copper, Crude Oil; Your 4 Important Need-To-Knows for Trading Futures on July 31st, 2025

Posted on July 30, 2025 by Cannon Operations

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Corn

Bullet Points, Highlights, Announcements

By Mark O’ Brien, Senior Broker

corn

General:

The Federal Reserve held rates steady for a fifth straight meeting today but faced rare dissents from two officials seeking an immediate cut. Officials maintained their benchmark policy rate in a range between 4.25% and 4.5%. Dissent came from two Fed governors and marks the first meeting since 2020 in which more than one Fed official voted differently than chair Powell, and the first since 1993 in which more than one board governor dissented.

Grains: Soybean, Corn

Chicago Board of Trade soybean futures fell for the fourth consecutive session today, dragged down by favorable weather across the U.S. Midwest and sluggish export demand, analysts said. Weighing on prices were forecasts for cooler temperatures and periodic rainfall in the U.S. Midwest, bolstering expectations for big U.S. soy and corn harvests. Prior to tomorrow’s First Notice Day for the contract, August futures touched $9.77 3/4 per bushel, its lowest price of the year. Sept. corn futures matched yesterday’s intraday low of $3.87 3/4 per bushel, nearly a 2-year low.

Energy: Crude Oil

Crude futures rose for the third day, buoyed by concerns U.S. sanctions could reduce flows of Russian crude, optimism over trade deals such as those with the EU and Japan.

Focus ahead will be on the weekend meeting where OPEC+ will determine September output levels. The September West Texas futures contract on the NYMEX traded above $70/barrel for the first time since June 23, a ±$5.00/barrel in three trading sessions, equal to a $5,000 per contract move.

Metals: Copper

Last week, copper futures hit a new record high with the front month September contract trading to $5.9585/lb. Today, U.S. President Donald Trump signed a proclamation ordering 50% tariffs on certain copper imports, citing national security. However, the levies applied only to semi-finished products, such as copper pipes and wires and so-called derivate products such as pipe fittings and cables. It excluded refined materials such as copper ores and concentrates. Reacting to the anticipated limited impact on the base metal, September copper futures plunged over $1.20/lb. to below $4.60/lb. – a ±19% drubbing and a ±$30,000 per contract move for the contract, the largest single-day decline since 1989.

December Corn

December Corn is testing support against the contract low and key reversal. If violated, new sustained lows would project a potential slide to the third PriceCount objective to the $3.88 area.

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Metal, Bitcoin, September Copper; Your 3 Important Need-To-Knows for Trading Futures on July 10th, 2025

Posted on July 9, 2025 by Cannon Operations

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Metals & Bitcoin Dominate

metal

By Mark O’Brien, Senior Broker

Metals:

August gold futures traded on both side of $3,300 per ounce today as investors continue to watch the evolving U.S. tariff policy with optimism grew that trade deals between U.S. and its trading partners would continue to weighed on safe-haven flows.

Copper futures fell on COMEX today as traders and investors continued to sift through President Trump’s latest tariff threats. Yesterday, President Trump announced a surprisingly large 50% tariff on copper that could kick in by Aug. 1 or sooner prompting the front-month September copper futures contract to rise ± 50 cents per pound / ±10% – a ±$12,500 per contract move – to an all-time high near $5.50/pound yesterday. Today, the contract eased down ±15 cents/±2.5%.

Crypto:

The three-year pattern of midyear volume dips for Bitcoin futures continues as June marks a sharp month-over-month decline. Total Bitcoin futures volume for the month of June recorded a ±20% month-over-month decline.

For context, over the first five months of 2025, Bitcoin futures volume averaged $1.93 trillion per month. This puts June’s figure roughly 20% below the year-to-date monthly average with just ±$1.55 trillion in total Bitcoin futures volume this month. Even so, July Bitcoin futures closed above 112,000 and within striking range of its May 22 all time high close of 112,905.

September Copper

September copper accelerated its rally into a new contract high where the chart satisfied its third upside PriceCount objective. It would be normal to see a near term reaction from this level in the form of a consolidation or corrective trade, at least. At this point, IF you could sustain another leg to the topside, the low percentage fourth count projects a possible run to the 7.22 area.

Learn more at www.qtchartoftheday.com

Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors.

Past performance of actual trades or strategies is not necessarily indicative of future results.

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50% Copper TARIFFS, FOMC Minutes, December Corn; Your 3 Important Need-To-Knows for Trading Futures on July 9th, 2025

Posted on July 8, 2025 by Cannon Operations

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50% Copper TARIFFS & FOMC Minutes Tomorrow

By John Thorpe, Senior Broker

tariff

Week after week I have included Tariff news: Anything goes! On blog and newsletter

Mid-Day Trump comments spiked, in little time, Copper Futures prices by 17%, settling down to a positive 10+% gain.

This shouldn’t have been too much of a surprise for those paying attention back in February, President Trump signed an executive order on Feb. 25, 2025, directing the secretary of commerce to initiate a Section 232 investigation into whether copper imports into the U.S. threaten to impair national security.

This investigation will assess the national security risks related to imported copper in all its forms, including raw mined copper, copper concentrates, refined copper, copper alloys, scrap copper, and derivative products.

Within 270 days the secretary of commerce will submit a report to the president with findings and recommendations on actions to mitigate any threats, including potential tariffs, export controls, or incentives to increase domestic production.

If you would like to know more about the High Grade Copper contracts please call your broker. Of note! Today the Micro High Grade Copper contract traded over 47 thousand contracts while the full size 25000lb contract traded over 99 thousand. The overnight margin coming into today was $9900 for the Full size and $605 for the micro, soon to increase.

Tomorrow:

Econ Data: FOMC Minutes 1:00 p.m. CDT, EIA Crude oil stocks,

FED: Quiet

Earnings: Quiet

Tariff news: Anything goes!

December Corn

The December (xmas) corn resumed its slide into a new low.

We have moved to the expanded April/May leg for projecting downside PriceCounts as the formation continues to develop.

The second counts projects a possible slide to $4.08 area.

And that is December Corn for you!

Learn more at www.qtchartoftheday.com

Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors.

Past performance of actual trades or strategies is not necessarily indicative of future results.

Daily Levels for July 8th, 2025

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Market Update: Copper Prices Rise Amid Economic Uncertainty

Posted on March 26, 2025March 31, 2025 by Jenny Collins

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Market Highlights – NASDAQ, Copper

nasdaq

by Mark O’Brien, Senior Broker

Indexes – Nasdaq

Stock index futures dipped today, led lower as pressure on the tariff front mounted. The June E-mini S&P 500 Futures contract lost ±1.4%, while the E-mini Dow traded ±250 points lower, or 0.6%. The E-mini Nasdaq shed about 2%.

Stock index futures hit session lows after the White House said that President Donald Trump will unveil new tariffs on auto imports during a press conference at 4 p.m. ET. This will come ahead of a broad array of additional levies expected to be revealed next week.

Grains:

Discover new tools for planting season ahead of key reports. The upcoming Prospective Plantings report can significantly impact market prices, especially if the actual numbers differ from pre-release estimates. New Weekly options on crops such as Corn, Soybean, Soybean Meal, Soybean Oil and Chicago Wheat offer more precise risk management around the report’s release.

Micro Corn futures, Micro Wheat futures, Micro Soybean futures, Micro Soybean Meal futures and Micro Soybean Oil futures were launched on February 24, 2025, with the first weeks of trading already providing meaningful liquidity.

Financially settled Micro Agricultural futures allow customers to stay in their position closer to expiration, with no risk of physical delivery.

New Micro Agricultural futures are a tool for retail traders looking to gain exposure to commodity markets without incurring the risk of physical delivery and with less margin costs than standard Agricultural futures.

Small- to medium-size farmers can take advantage of Micro Agricultural futures to hedge parts of their expected harvest, without having to rely on standard Grains futures contracts of 5,000 bushels (according to the USDA, the average farm in the U.S. consists of 464 acres).

Metals – Copper

On December 31st, March copper futures settled at 4.0265.  Today, they were trading at about 5.22; an increase of about 30% in the first three months of the year and a 5+ year high.  This dramatic price action is driven by traders pricing in the possibility of hefty tariffs on the crucial industrial metal. The price gap between U.S. copper futures and the global benchmark on the London Metal Exchange has widened to record levels, creating a powerful incentive for traders to shift copper into the United States.

Daily Levels for March 27th, 2025

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Gold Surges to Record $2,974: Powerful Trends & Market Shifts in This Month’s Report

Posted on March 17, 2025 by Jenny Collins

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Monthly Micro

Gold, Silver and Copper

Markets Report

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Highlights in this issue include:

Gold prices reach new high of $2,974/oz amid tariff fears and a weaker USD.
Silver prices down 2.4% MoM: weaker industrial demand concerns persist.
Copper prices gain 1.8% MoM, the third consecutive month of growth despite tariff uncertainty.
Micro Gold futures saw 21% MoM growth in February.

1-Ounce Gold futures see strong start: ADV reached 8,144 contracts in February.

READ FULL REPORT

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Daily Levels for March 18th, 2025

JUNE levels for stock index futures will be sent out tomorrow morning around the cash open!

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Copper Prices Surge $6,500 per Contract After Trump’s 25% Tariff Bombshell!

Posted on March 5, 2025 by Jenny Collins

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Markets Highlights on Copper

Copper

by Mark O’Brien, Senior Broker

General:

The big one! It’s that time of the month again: we’re a couple of days from when the Labor Dept. releases its monthly Non-farm payrolls report. It’s widely considered to be one of the most important and influential measures of the U.S. economy and the report is released at 7:30 A.M., Central Time on the first Friday of the month.

Ahead of that, today the ADP National Employment Report showed payrolls increased by 77,000 jobs in February, the smallest gain since July 2024, after rising 186,000 in January. Economists had forecast private employment advancing 140,000.

The ADP report, jointly developed with the Stanford Digital Economy Lab, likely exaggerates the labor market slowdown and has no correlation with the government’s employment report.

 Softs:

Arabica coffee futures rose sharply today with the market heading back up towards recent record highs. May ICE coffee rose almost 5% to $4.1855 per lb. intraday. Traders indicated the market showing signs of resuming its upward trend after suffering a sharp setback which took prices from a record high of $4.2995 on Feb. 11 to a low of $3.6630 a week ago – a ±$23,900 per contract correction! The market was keeping a close watch on the weather in top grower Brazil with hot, dry conditions raising some concerns about the upcoming crop.

Energy:

Crude oil futures settled down for the fourth consecutive session today after U.S. crude oil stockpiles posted a larger-than-expected build, adding a further headwind as investors worried about OPEC+ plans to increase output in April and U.S. tariffs on Canada, China and Mexico. April West Texas Intermediate crude (WTI) settled down $1.95, or 2.86%, to $66.31 a barrel, its lowest since November ’24. OPEC+, the Organization of the Petroleum Exporting Countries and allies including Russia, decided on Monday to proceed with a planned April oil output increase of 138,000 barrels per day, its first since 2022.

Metals:

Copper

CME/COMEX copper futures soared today following President Donald Trump’s announced 25% tariffs on copper imports during his Tuesday night speech to Congress. May copper rose ±26 cents/lb. (±5.7% as of this blog post – a $6,500 per contract move – to a $4.825/lb. intraday high.

April Crude Oil

April crude oil is completing its second downside PriceCount objective to the 66.53 area. It would be normal to get a near term reaction from this level in the form of a consolidation or corrective trade. At this point, IF the chart can sustain further weakness, the third count would project a possible slide to a new contract low around 62.78. A trade below the October reactionary low would formally negate the remaining unmet upside objectives.

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Daily Levels for March 6th, 2025

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Hidden Market Trends: Copper Joins Coffee and Gold in Notable Moves

Posted on February 10, 2025February 10, 2025 by Jenny Collins

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Coffee Anyone? Gold? Copper?

COFFEE

While most day traders focus on markets like mini SP, MICRO NQ, bonds and few others, some of the other markets have made some noticeable moves. Coffee, Gold and now Copper.

March copper is activating upside PriceCount objectives off the January lows. The first count projects a possible run to the 4.80 area which is consistent with a challenge of the fall high.

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Daily Levels for February 11th, 2025

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Dr. Copper!! 1.26.2018

Posted on January 25, 2018January 29, 2018 by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!

____________________________________________________________________

Is Resurgent Dr. Copper About to Relapse?

By Erik Norland, Senior Economist, CME Group

Highlights

Copper on the uptrend after recovering from 2011-2015 slump
Top importer China’s return to economic growth is supportive
Options signaling underlying concerns over China, surging U.S. equities
China has begun tightening credit growth and has high levels of debt

Read Full Article

Continue reading “Dr. Copper!! 1.26.2018”

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What You Need to Know!

by Mark O’Brien, Senior Broker

At-a-Glance Levels

Gold (GC)

Silver (SI)

Crude Oil (CL)

Mar. Bonds (ZB)

General:

More General:

Energies:

Metals:

March – May Wheat Spread

Daily Levels for Dec. 4th, 2025

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Corn

Bullet Points, Highlights, Announcements

By Mark O’ Brien, Senior Broker

December Corn

Daily Levels for July 31st, 2025

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Metals & Bitcoin Dominate

By Mark O’Brien, Senior Broker

Metals:

Crypto:

September Copper

Daily Levels for July 10th, 2025

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50% Copper TARIFFS & FOMC Minutes Tomorrow

By John Thorpe, Senior Broker

December Corn

Daily Levels for July 8th, 2025

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Market Highlights – NASDAQ, Copper

by Mark O’Brien, Senior Broker

Indexes – Nasdaq

Grains:

Metals – Copper

Daily Levels for March 27th, 2025

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Monthly Micro

Gold, Silver and Copper

Markets Report

Daily Levels for March 18th, 2025

JUNE levels for stock index futures will be sent out tomorrow morning around the cash open!

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Markets Highlights on Copper

by Mark O’Brien, Senior Broker

General:

 Softs: