Morning Update 9/29/22

ByIvan

Grains extend their short covering rally overnight. Grain futures extended their rallies overnight, despite the US dollar firming ½ a percent, as short covering remained the feature ahead of Friday’s NAS S September Stocks and Final Grain Report due out at 11:00 p.m. CT. Rising interest rates that will continue into the year-end will keep…

Morning Update 9/28/22

ByIvan

Wheat leads the overnight recovery rally. Grain futures had another volatile night session that experienced heavy weakness in the early morning hours, as the US dollar pushed to another new multi-decade hide of 114.75. The UK announced it will need to do some quantitative easing projects due to its seizing bond markets. This weakness found…

Morning Update 9/27/22

ByIvan

Turn-around Tuesday is on time. After four days of heavy selling in the stock index markets along with commodities from the Federal Reserve’s .75% interest rate hike last week, Turn-around Tuesday is creating a recovery bounce on valuations. The US dollar has softened today and is trading down 1% from yesterday’s high. It is unlikely…

Crude

ByIvan

Spec trade: Buy 2 Nov Micro-crude oil at the MKT, 77.40 last, stop at 69.80. Crude oil has declined to the 78% Fibo retracement of last Decembers low.

Morning Update 9/26/22

ByIvan

New highs again overnight for the trending US dollar. Grain futures are lower across the board this morning as the US dollar continues to bolt to new multi-decade highs. Overnight the British pound slid to record lows, pushing the US dollar for a moment to $114.44, the highest level since May 2002, before settling back…

Morning Update 9/23/22

ByIvan

The US dollar bolts to need highs again overnight. Friday is magnifying the deflationary trend of the week, with the US dollar bolting to new highs over 112.11 overnight. This is created a complete risk-off mentality across all equity and commodity sectors. With exports so poor and the strength of the US dollar, soybeans and…