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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!

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.

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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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