SubscribeDaily Futures Commentary May 27, 2009
Wednesday, May 27, 2009
Much of the focus the past few months has been on the turmoil in the financial and equity markets, but in the meantime, there have been sizeable moves in both the grain and softs complex. These markets have been responding to pure supply/demand issues and have not been subject to the day to day reports which sometimes make the financial markets too choppy to decipher.
The trend remains up in July Soybeans. The trend turns down on a trade through 975 1/4. Based on the strong close this market is in no danger of changing the trend to down and is on target to reach a major 50% retracement price at 12.23.
A huge surge in global demand continues to erode U.S. supplies. Last week exports were up 4.6 percent to 16.993 million bushels. Exports were also up 21 percent from this time last year.
Soybean exports are expected to continue to rise with the greatest demand coming from China. At this time speculators see no slowdown in demand. Supply issues may also help contribute to gains if weather problems become an issue this growing …
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Comment by SAMM on 1 June 2009:
@MIkes America
“Barack the magic negro” thats not racist…limbaugh is a racist…your an UNDERCOVER racist….You dont find anything wrong or offensive with anything limbaugh does!!??…you just dont have the balls to come out and say it…If Sotomayor was not hispanic you wouldnt have a problem with it. It must really kill you that a black man is the president.
When BUSH was running this place into the ditch you werent complaining lol….why didnt you frauds start doing your tea party protest then?? Did you just release the country is in a ditch? It didnt happen over night buddy…With Nixon offcially took us off the gold standard. And george bush and (his sidekick greenspan) who badly wanted to get re-elected, created this monster of a housing bubble by keeping interest rates too low. And the final nail in the coffin, “The bill barring most regulation of derivative trading was inserted into an 11,000-page budget measure (in Congress) that became law as the nation was focused on the disputed 2000 presidential election (Bush vs. Gore). The inserted bill was sponsored by Republican Senators Phil Gramm of Texas and Richard Lugar of Indiana, with support from Democrats, the Clinton administration, and then-Federal Reserve chairman Alan Greenspan. Few opposed it”. USA Today Oct. 13, 2008.
we are on our way over a cliff. Might I add if Obama unable to solve this mess( frankly no one can it dose has to run its course) what would an idiot like mccain accomplish!!??
Comment by SAMM on 1 June 2009:
P.S. I forgot to mention Reganomics add tha to te list.
http://www.nytimes.com/2009/06/01/opinion/01krugman.html?_r=1
“This bill is the most important legislation for financial institutions in the last 50 years. It provides a long-term solution for troubled thrift institutions. … All in all, I think we hit the jackpot.†So declared Ronald Reagan in 1982, as he signed the Garn-St. Germain Depository Institutions Act.
“But there was also a longer-term effect. Reagan-era legislative changes essentially ended New Deal restrictions on mortgage lending — restrictions that, in particular, limited the ability of families to buy homes without putting a significant amount of money down”.
“These restrictions were put in place in the 1930s by political leaders who had just experienced a terrible financial crisis, and were trying to prevent another. But by 1980 the memory of the Depression had faded. Government, declared Reagan, is the problem, not the solution; the magic of the marketplace must be set free. And so the precautionary rules were scrapped”.