London

Energy Report
Commodities

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The overnight markets have made a feeble attempt of recovering some of the devastating losses that have occurred in the past 2 trading session. The beans as of 8:00Cst are hovering near 10 cents higher in the session, meal has gained $3, oil increased by 40-50 points, corn increased by 6-8 and wheat has gained 8-10. Its Tuesday and the markets have been punished over the past few sessions, don’t be too quick to jump back on the bull wagon as there has been extreme technical damage and the beans have a gap that should be filled down to 1478 that dates back to June.

Energy Report
Commodities

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The S&P is up over 14% on the year, $ follows $ and the world loves equities over nearly everything else, is it any surprise to see a surge in equities yesterday while grains get punished and it happened to be the 1st day of the new quarter?

Energy Report
Commodities

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The overnight session gives a bit for everyone as the market continues to digest the past USDA report. The corn market is the market back on the front page as supplies remain tight. The beans are also tight but not as tight as many had assumed and wheat is also shrinking on the supply side. The bottom line is that the USDA once again was able to absorb some early harvest into the old crop figures and as long as there is early harvest this pattern seems to work. The question is what do they do when there isn’t an early harvest? This is a debate for another time as it doesn’t matter today.

Energy Report
ETF

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What a difference a month makes, just 30 days ago the bean and corn markets were pushing near all-time highs with thoughts of another 10% surge, there wasn’t many anticipating that the 10% move would be lower. The seasonal tendency all points towards September being a dismal month to be long grains, but this year was different…right? Apparently not. So what does the market do from here?

Energy Report
Commodities

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The overnight markets have attempted once again to recover from some of the punches it has taken in the gut over the past few weeks. It’s amazing to look back at seasonal trades and think “why didn’t I respond to what history has taught me”? One of the biggest seasonal trades in grains is to sell the market through September, this has been no different yet on September 1st the perception was that this year is different. Well if we look back at history again there is typically a quick 50% retracement of the September losses during the first few weeks of October.

Aussie and Euro Hit Fresh Lows but Rebound Ahead of Fed Minutes
Currencies

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After Greek leaders announced that they failed to form a government, guaranteeing at least one more round of elections, higher yielding currencies and risk-correlated assets entered a free fall. The EURUSD fell to its lowest level since January 17 overnight while the AUDUSD dropped to its lowest level since December 15. Similarly, global equity markets have sold off sharply in the aftermath, with Asian shares being hit the hardest.