Volatile Markets – Be Careful!! Grains Weather Updates…. 2.09.2018
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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Dryness Extensive Across Southern Plains Wheat Belt
Moisture levels have remained very low across the majority of the hard red wheat belt in the central Plains throughout the winter, with moderate drought now widespread across eastern Colorado into central Oklahoma, and severe to extreme drought located in southern Kansas, Oklahoma, and much of central and northwestern Texas (see map below).
The outlook for the next few weeks shows an upturn in moisture across the northern Plains, with Colorado and Nebraska likely to see some notable improvements in moisture in the form of snowfall. Meanwhile, moisture receipts will likely remain below normal across south central Kansas into west central Oklahoma and northwestern Texas. While moisture needs this time of year are very low for wheat as it remains in dormancy, an upturn in moisture will be critical for these areas once it emerges from dormancy.
However, a drier pattern is expected to continue across the majority of the region in March, which will likely result in some significant stress as spring crop growth resumes. An upturn in rains is possible across the heart of the hard red wheat belt in April, though, which should begin to improve moisture supplies and crop conditions. The rains will be critical to prevent substantial yield reductions for the wheat crop.
By: Don Keeney
Senior Ag Meteorologist
Radiant Solutions Read More with charts and other data at: http://pages.cmegroup.com/index.php/email/emailWebview
With the recent volatility the CME have raised some of the overnight margins for stock index futures.
Most of our clients enjoy $500 daytrading margins for the contracts below, depending on the platform and in rare cases market conditions. Few of the trading platforms will use % of overnight margins and/or if you plan on holding positions more than intraday than note below:
ES was $5,555 –> now $6,105
NQ, $5,720 –> $6,380
YM, $4,620 –> $5,280
RTY, $3,245 –> $3,630
NKD, $4,565 –> $5,280
BE CAREFUL!! THESE ARE NOT “REGULAR OR NORMAL TIMES”
Plan your trade, trade your plan and ALWAYS try to asses the risk/ reward ratio you are about to trade.
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
2-08-2018
| Contract March 2018 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | BitCoin Index |
| Resistance 3 | 2770.33 | 6845.67 | 25789 | 1547.97 | 9813.33 |
| Resistance 2 | 2728.42 | 6732.08 | 25359 | 1529.93 | 9251.67 |
| Resistance 1 | 2660.83 | 6528.17 | 24661 | 1499.17 | 8768.33 |
| Pivot | 2618.92 | 6414.58 | 24231 | 1481.13 | 8206.67 |
| Support 1 | 2551.33 | 6210.67 | 23533 | 1450.37 | 7723.33 |
| Support 2 | 2509.42 | 6097.08 | 23103 | 1432.33 | 7161.67 |
| Support 3 | 2441.83 | 5893.17 | 22405 | 1401.57 | 6678.33 |
| Contract | Apr. Gold | Mar. Silver | Mar. Crude Oil | Mar. Bonds | Mar. Euro |
| Resistance 3 | 1342.4 | 16.69 | 63.40 | 146 9/32 | 1.2401 |
| Resistance 2 | 1333.4 | 16.56 | 62.74 | 145 20/32 | 1.2362 |
| Resistance 1 | 1326.9 | 16.45 | 61.58 | 144 30/32 | 1.2317 |
| Pivot | 1317.9 | 16.32 | 60.92 | 144 9/32 | 1.2279 |
| Support 1 | 1311.4 | 16.22 | 59.76 | 143 19/32 | 1.2234 |
| Support 2 | 1302.4 | 16.09 | 59.10 | 142 30/32 | 1.2195 |
| Support 3 | 1295.9 | 15.98 | 57.94 | 142 8/32 | 1.2150 |
| Contract | Mar. Corn | Mar. Wheat | March Beans | Mar. SoyMeal | Mar. Nat Gas |
| Resistance 3 | 370.4 | 469.6 | 1014.83 | 358.73 | 2.82 |
| Resistance 2 | 369.1 | 464.9 | 1005.42 | 352.37 | 2.79 |
| Resistance 1 | 367.4 | 460.6 | 996.58 | 347.03 | 2.74 |
| Pivot | 366.1 | 455.9 | 987.17 | 340.67 | 2.71 |
| Support 1 | 364.4 | 451.6 | 978.3 | 335.3 | 2.7 |
| Support 2 | 363.1 | 446.9 | 968.92 | 328.97 | 2.63 |
| Support 3 | 361.4 | 442.6 | 960.08 | 323.63 | 2.59 |
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.
