Weekly Futures Recap w/Mike Seery

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Grain Futures-- The grain market continues its extreme volatility especially in soybeans up another $.40 this Friday right near contract highs at 13.26 a bushel all due to the fact that the crop is not very good despite heavy rains across much of the Midwest yesterday especially in Illinois but production in Iowa is dismal with a worse crop than the 2011 floods and the 2012 drought which is absolutely astonishing in my opinion, and it looks to me that these prices are headed higher. As I’ve stated in previous blogs the trade that is been working is to be long soybeans & short corn and wheat and its working again as the real strength is and soybeans as corn is still going to have a terrific crop and if wheat could talk it would bark that’s how big of a dog this market is only up $.04 today at 6.44 only $.05 away from making new contract lows as the fundamentals in wheat are much different than in soybeans. Corn futures are up $.06 at 4.71 basically going nowhere in recent weeks after Thursday’s debacle down $.19 due to the heavy rains and it looks to me that corn and wheat will remain weak for quite some time as the possibility of soybeans continuing towards the $14 mark looks pretty good and if you look at soybean meal prices they have hit contract highs once again as massive demand for that product continues to prop up prices towards historical highs. Continue reading "Weekly Futures Recap w/Mike Seery"

Weekly Futures Recap W/Mike Seery

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Precious Metal Futures--- The precious metals have continued their bullish run this week with gold trading above their 20 day moving average but below their 100 day which stands at 1,382 going out this Friday at 1,371 after settling last Friday at 1,312 having one of its best weeks in quite some time and finishing higher 7 out of the last 8 trading sessions. Gold has been rallying due to the fact that the stock market finally looks vulnerable at these levels & a rotation out of stocks into gold is exactly what is happening with major resistance at $1,400. As I’ve been stating in previous blogs I do believe gold is going higher and I still recommend a long position either with a futures contract or possible bull call spreads because if the stock markets continues to head lower then gold will turn higher. Silver futures which I’ve been recommending a long position for quite some time are trading far above their 20 and 100 day moving average hitting a 3 week high settling last Friday at 20.46 in the December contract and going out this Friday at 23.37 up nearly $3.00 this week and is traded higher in 7 straight trading sessions with the next major resistance at $25. The reason I really liked the silver market was Continue reading "Weekly Futures Recap W/Mike Seery"

Weekly Futures Recap W/Mike Seery

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Grain Futures--- The grain market continued its bearish momentum this week pushing corn near 3 year lows trading far below its 20 and 100 day moving average settling this week at 4.52 of bushel right at session lows this Friday afternoon and down about $.10 for the trading week as U.S crop conditions are excellent at this point in time. Traders are waiting Monday afternoon’s USDA report which could surprise the market in either direction but as I’ve been stating in many previous blogs I continue to remain bearish this entire complex and I’m still advising traders to be short across the board. Soybean futures for the November contract are still trading below their 20 and 100 day moving average basically settling unchanged for the trading week and are much stronger than corn or wheat but it hit contract lows in Wednesday’s trade before rallying $.20 yesterday as traders are awaiting the supply/ demand and production numbers Monday afternoon. Continue reading "Weekly Futures Recap W/Mike Seery"

Weekly Futures Recap W/Mike Seery

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Grain Futures--- The grain market continues their bearish trend with soybeans higher by $.15 in early trade only to selloff & make new contract lows at 11.81 finishing right near session lows and as I’ve been instructing traders or investors for quite some time I do believe prices are headed substantially lower in the next 2 weeks due to the fact that the weather is outstanding especially if we can get some warmer weather which should really propel the crop even more. Corn futures continue to move lower once again finishing down $.03 in the December contract at 4.63 a bushel also at new contract lows as I’m hearing from many farmers around the country & they are expecting over 200 bushels an acre which could produce a record crop this fall. Continue reading "Weekly Futures Recap W/Mike Seery"

Weekly Futures Recap W/Mike Seery

We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Precious Metal Futures—The precious metal futures ended lower this Friday afternoon with gold finishing down about $7 an ounce at 1,322 after settling last Friday at 1,293 up about $30 for the week which is pretty solid and I have been recommending buying gold when it broke out to a 4 week high above 1,302 and I still think gold has more room to run on the upside but make sure you do place a stop loss at the 10 day low if you are long the futures contract to try & minimize risk in case the trend does change. Gold futures are right at the uptrend line and if that is broken I think prices could head up to $1,400 here in the next month but I would be very suspicious & doubt if it has any more legs to pass those levels. The U.S dollar has been down substantially in recent weeks and that is helped push gold and silver prices higher as well as many hedge funds have taking profits on their short positions in recent weeks. Continue reading "Weekly Futures Recap W/Mike Seery"