Dec gave up 42 points today to settle at 61.47. Gaps remain above the market at 67.88 – 68.00 and 77.80 – 78.00. The settlement was within the lower one quarter of today’s 147 point trading range. Mar lost 39 points, settling at 61.07; the net effect left the Dec – Mar spread near unchanged at 39.
For tomorrow…
Dec gave up 42 points today to settle at 61.47. Gaps remain above the market at 67.88 – 68.00 and 77.80 – 78.00. The settlement was within the lower one quarter of today’s 147 point trading range.
The standard technical bias for the front month remains bearish with downside momentum continuing to quicken.
For tomorrow…
Dec cotton posted a very poor performance last week, its attempt to redeem itself on Fri notwithstanding. Dec gave up 250 points on the week, all but one point of its 357 point trading range was south of last week’s 64.39 settlement.
Dec corn gave up 8½ cents last week to settle at 323, another new contract low settlement, while posting its sixth consecutive W/W loss. Volume quickened while OI contracted slightly W/W.
Nov soybeans gapped 4 cents lower on the opening bell last Sun evening, recovering less than 2 cents of the gap, en route to a 46¾ cent loss on the week. The Nov contract settled at 910¼, only ½ cent on its latest contract low.
For this week…
Dec cotton posted a very poor performance this week, its attempt to redeem itself Fri evening notwithstanding. Dec gave up 250 points on the week, all but one point of its 357 point trading range was south of last week’s 64.39 settlement.
For next week…
Dec wheat picked up ¼ cent today to settle at 474¼. Volume slowed dramatically while OI expanded D/D. For the week, the Dec contract finished very near unchanged W/W.
For Mon…
