March 9, 2010
Tuesday Morning
The night trade had CK-4, WK -5 and SK-7.
The opening calls for soybeans are 4 to 7 lower,
corn 2 to 4 lower and wheat 3 to 5 lower.
The USDA will release the supply and demand
report in the morning.
NEWS:
This morning the dollar is higher with stocks,
crude oil and most commodities lower.
The US Corn Belt has a warm wet forecast for
this week and drier next week.
The South American forecast is favorable with
Brazil having a wet extended forecast.
Brazil’s soybeans harvest is estimated at 30%
to 33% complete with the crop size estimates growing.
The US corn planting pace is lagging normal
in the south, TX, MS and GA.
The weekly exports for wheat is 20.4 (14-19),
corn 34.0 (29-38) and soybeans 30.9 (32-39).
The supply and demand report for soybeans is
expected to show the US crush +5 to +10 million bushels and the
exports increased 20 to 30 million bushels with the carryout lowers
to 170 to 190 area vs. 210 last report.
TECHNICAL POINTS:
The CK has resistance at 383, 394, 404 and 422.
The CK has support at 374, 371 and 348.
The SK has resistance at 957, 989 and 1076.
The SK has support at 903.
The WK has resistance at 547 and 553. The WK
has support at 489, 485 and 448.
Thanks, Craig
Disclaimer
This information is not to be construed
as an offer to sell or a solicitation
or an offer to buy the commodities
herein named. The factual information of this report
has been obtained from sources believed
to be reliable, but is not necessarily
all-inclusive and is not guaranteed as to
the accuracy, and is not to be construed
as representation. The risk of trading
futures and options can be substantial.
Each investor must consider whether
this is a suitable investment. Past
performance is not indicative of future result
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