MIDWEST MARKET SOLUTIONS July 29, 2016 By: Brian Hoops, President www.midwestmarketsolutions.com follow us on twitter @MidwestMarkets 417-501-5132 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 • First notice day for August futures is today. • Option expiration for August live cattle is Friday, August 5. • First notice day for August live cattle is Monday, August 8.
Corn: • December corn has chart resistance at $3.45 and support at $3.37
Soybeans: • Exporters announced sale of 129,000 mts of soybeans to China and 328,000 mts of soybeans to an unknown destination on Thursday morning. • November soybeans have chart resistance at $9.92 3/4 and support at $9.67
Wheat: • Jordan bought 50,000 mts of wheat. • Egypt bought 60,000 mts of Russian wheat and 60,000 mts of Romanian wheat. • September Chicago wheat has chart resistance at $4.28 1/4and support at $4.08
Live and Feeder Cattle: • October live cattle have chart resistance at $113.80 and support at $109.12 • August feeder cattle have chart resistance at $143.45 and support at $137.92
Lean Hogs: • October lean hog have chart resistance at $61.72 and support at $59.45
Highlights of this week's Market Insider Weekly Newsletter include: * Outlook for the grain markets. * COT report analysis. * Monthly COF and cold storage reports. * Story on person convicted of spoofing. * A look at China's soybean imports. * Monsanto Co. rejects Bayer AG offer. * Plus much more.
Brian Hoops discusses in the money vs. out of the money option strategies.
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