MIDWEST MARKET SOLUTIONS EARLY MARKET COMMENTARY April 24, 2014 By: Brian Hoops, President www.midwestmarketsolutions.com follow us on twitter at MidwestMarkets 417-501-8153 Midwest Market Solutions is the leading edge in commodity marketing and trading and is widely recognized as one of the top marketing advisory and brokerage firms in America.
HEADLINES • The Stats Canada report is due out this morning. • Cattle on feed report will be released April 25. • May grain options expire Friday, April 25. • First notice day for May grains is April 30.
Corn: • Exporters announced sale of 120,000 mts of grain sorghum to China on Wednesday morning. • South Korea bought 60,000 mts of US or South American corn. • July corn has resistance at $5.12 with support at $4.99 ¾
Soybeans: • July soybeans have chart resistance at $14.92 and support at $14.59 ¾
Wheat: • Japan purchased 108,789 mts of milling wheat at their weekly tender. • Iraq purchased 60,000 mts of Russian wheat. • July Chicago wheat has chart resistance at $6.93 and support at $6.70 ¾
Live and Feeder Cattle: • June live cattle have chart resistance at $135.90 and support at $134.35
Lean Hogs: • June lean hog have chart resistance at $126.55 and support at $121.55
Highlights of this week's Market Insider Weekly Newsletter include: * Highlights of NOPA crush report. * Which market made a perfect 50% retracement on weekly charts. * Which market scored a new breakout on weekly charts. * Story on plea to extend tax provisions. * USDA Ag Secretary announces more than $19 million available in grants. * Story on the CME Group being sued by former users in a landmark case. * Plus much more.
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This material has been prepared by a sales or trading employee or agent of Midwest Market Solutions and is, or is in the nature of, a solicitation. This material is not a research report prepared by Midwest Market Solutions’s Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.
DISTRIBUTION IN SOME JURISDICTIONS MAY BE PROHIBITED OR RESTRICTED BY LAW. PERSONS IN POSSESSION OF THIS COMMUNICATION INDIRECTLY SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH PROHIBITION OR RESTRICTIONS. TO THE EXTENT THAT YOU HAVE RECEIVED THIS COMMUNICATION INDIRECTLY AND SOLICITATIONS ARE PROHIBITED IN YOUR JURISDICTION WITHOUT REGISTRATION, THE MARKET COMMENTARY IN THIS COMMUNICATION SHOULD NOT BE CONSIDERED A SOLICITATION.
The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance, whether actual or indicated by simulated historical tests of strategies, is not indicative of future results. Trading advice is based on information taken from trades and statistical services and other sources that Midwest Market Solutions believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.
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This material has been prepared by a sales or trading employee or agent of Midwest Market Solutions and is, or is in the nature of, a solicitation. This material is not a research report prepared by Midwest Market Solution’s Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.
DISTRIBUTION IN SOME JURISDICTIONS MAY BE PROHIBITED OR RESTRICTED BY LAW. PERSONS IN POSSESSION OF THIS COMMUNICATION INDIRECTLY SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH PROHIBITION OR RESTRICTIONS. TO THE EXTENT THAT YOU HAVE RECEIVED THIS COMMUNICATION INDIRECTLY AND SOLICITATIONS ARE PROHIBITED IN YOUR JURISDICTION WITHOUT REGISTRATION, THE MARKET COMMENTARY IN THIS COMMUNICATION SHOULD NOT BE CONSIDERED A SOLICITATION.
The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance, whether actual or indicated by simulated historical tests of strategies, is not indicative of future results. Trading advice is based on information taken from trades and statistical services and other sources that Midwest Market Solutions believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.
