September 2, 2010 - Author: Ken Morrison
Price gaps provide important and reliable price targets. Today we outline a possible bullish scenario and timeframe for the corn market that has a price gap dating back to September 2008.
Read More...September 1, 2010 - Author: Ken Morrison
Three ecomomic reports today from three continents all provided pleasant surprises and evidence perhaps reports of the global economic demise were premature. The good news sent stocks higher and oil recovering most of Tuesday's losses. Now we'll see if the market can hold that thought through Friday's U.S. employment report.
Read More...August 31, 2010 - Author: Ken Morrison
Most markets ended the month in a whimper, limping to the finish line today perhaps victims of profit-taking and position-paring, the latter part I've been identifying as one of the current risks. The broad market braces for more economic data leading up to Friday's employment report with most of the news recently skewed toward the slowing aspects.
Read More...August 30, 2010 - Author: Ken Morrison
The flow-of-money from speculative interests have been mostly skewed on the long side of commodities in recent weeks but the combination of rather sizeable positions and chart resistance suggest we are nearing a time and price when a correction is likely. End-Of-month profit taking shouldn't surprise anybody.
Read More...August 29, 2010 - Author: Ken Morrison
Fed Chairman Bernanke says the economy and employment is growing too slowly to suit the Fed but is growing just enough to hold back any further stimulus they may have left in their bag of solutions. The market seemed to cheer this bit of ambivalence or perhaps it was just relieved the Fed isn't in a panic.
Read More...August 26, 2010 - Author: Ken Morrison
We analyze and compare the current pace of grain and oilseed export sales to recent years at this time and also take a look at USDA's track record for long-range export forecasts.
Read More...August 25, 2010 - Author: Ken Morrison
Based on a combination of price action and changes in futures open interest, traders have devoted the past couple of days to squaring-up and reducing positions. Only time and the price action will tell us if this is a temporary pause in the trend or the early stages of a change of trend direction.
Read More...August 24, 2010 - Author: Ken Morrison
Crude and crude-products have acted like they have a lead-weight tied to them as pricing have fallen nearly every day for the past 15 trading sessions. Is it tied to the unconfirmed report that Goldman Sachs may wind-down prop trading or just coincidence?
Read More...August 23, 2010 - Author: Ken Morrison
Beyond just the obvious benefit to shareholders of POT on BHP's takeout offer, a succcesful merger will likely change the way in which potash and phosphate fertilizer has been marketed and priced to fertilzer consumers. What's good for consumers may not be the best for shareholders.
Read More...August 22, 2010 - Author: Ken Morrison
"Crop checks" from behind the windshield @ 70 mph may not be quantitative but can provide important impressions that tend to confrim the technical readings.
Read More...August 18, 2010 - Author: Ken Morrison
The number of hedge funds participating in the markets are at or near record levels indicative of the recent interest in a number of commodities. Is everybody "in" that wants in? It's worth considering if the fuel provided by the recent money flows can be sustained.
Read More...August 17, 2010 - Author: Ken Morrison
BHP Billiton's $36 billion hostile bid for Potash Corp., the world's largest potash miner and supplier, provided added confidence to the grain and oilseed markets.
Read More...August 16, 2010 - Author: Ken Morrison
A number of charts of recent market leaders are showing technical signs of momentum loss. Look for some of these long-distance runners to take a breather soon.
Read More...August 10, 2010 - Author: Ken Morrison
Most markets experienced the kind of pullback we expected but nothing appears to have altered or changed the prevailing trends.
Read More...August 9, 2010 - Author: Ken Morrison
August 10 is one of the two most important Bradley Dates for 2010, a time when Donald Bradley's methodology says we can expect a trend change in a major market. Gold is my choice of markets to watch in this regard.
Read More...August 8,2010 - Author: Ken Morrison
Recent price trends in a number of markets reflect conditions that are less than ideal resulting in what I describe as 'priced for imperfection'. It's important to keep a perspective on what is already priced into the market and the implications if the outcome is materially different.
Read More...August 5, 2010 - Author: Ken Morrison
Russia put an end to recent rumors of export bans as Prime Minister Putin announced a ban on Russian grain sales and exports effective August 15 that will last "at least" through December. Today, we try to put some perspective on the implications for wheat..
Read More...August 4, 2010 - Author: Ken Morrison
Rising crop prices have not only improved the profit outlook for crop producers but is influencing the outlook for crop input providors.
Read More...August 3, 2010 - Author: Ken Morrison
In a bit of a role reversal or change of heart, Monday's areas of strength produced Tuesday's pullbacks and vice-versa. For a test of broad-market sentiment, the market will begin looking ahead to Friday's employment report.
Read More...August 2, 2010 - Author: Ken Morrison
Wheat remains the dominant market story with rub-on effect to fertilizer stocks and other grains. 2-3 important events coming up may help the market determine what's relevant for wheat and aid in reaching an equilibrium value again.
Read More...July 29, 2010 - Author: Ken Morrison
Mystery and intrigue over the size and condition of Russia's grain crops continue to dominate grain markets. Still, it may be the answers to the questions that are not being asked where clarity may reside.
Read More...July 28, 2010 - Author: Ken Morrison
We begin our look ahead to possible responses and planting decisions of producer's to the current crop prices and bottom-line economics that drive those decisions.
Read More...July 27, 2010 - Author: Ken Morrison
The supply of newly built dry-bulk vessels may keep a lid on and pressure ocean shipping rates for the foreseeable future. That has implications on the sentiment of overseas buyers for all commodities.
Read More...July 26, 2010 - Author: Ken Morrison
The S & P has not only managed to return to the level it ended 2009 but today's close is exactly the halfway mark between the July 1 low and the April 26 high. How or whether this influences marekt sentiment may be important for all markets.
Read More...July 25, 2010 - Author: Ken Morrison
Big bets on the long-side met by producer selling remained the dominant theme in the weather-inspired grain markets in the latest week. Charts in a number of commodity markets suggest we are approaching a critical period when more definitive trends will emerge.
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