Morning Summary: Markets were generally quiet overnight, maybe out of respect for the meeting of self-proclaimed “dear friends” in Moscow. That was the main takeaway from China’s President Xi and Russia’s Putin, affirmation of their countries being “friendly neighbors” and [...]
Morning Summary: In all the talk about the banking meltdown last week, there was one group comparing it to a “contagion”. Given what the world has gone through the past 3 years, I thought it a fitting description, and as [...]
Morning Summary: As legendary newsman Kent Brockman of The Simpsons fame would say, “Top of the morning to ‘ye on this gray drizzly afternoon when everyone is a little bit Irish, except for…”. I’ll paraphrase a bit here, to bring [...]
Morning Summary: So far this week we’ve had a Manic Monday the 13th, Pi-e Day (3.14), and the Ides of March (Wednesday, March 15). Fittingly enough, we saw one of the Kings of Commodities go down as if assassinated yesterday [...]
Morning Summary: This being March 15, there were a couple ways I could go with Morning Commentary. The first is to borrow the warning to Caesar to “beware the Ides of March”, but that doesn’t work as well when folks [...]
Morning Summary: Welcome to another Turnaround Tuesday, with this week’s edition expected to show us which markets actually turn, even if for a day, and which ones sink like a stone. The US dollar index was showing a small gain [...]
Morning Summary: I had to double-check one of my charts first thing Monday morning. When I looked at the US dollar index I noticed it was down about 0.50, so I quickly turned to the greenback’s daily chart and it [...]
Morning Summary: A quick look at Friday morning’s Barchart Futures Market Heat Map shows a lot of red. The only sector in the green is financials, meaning US Treasury futures, as traders presumably await the February jobs data set for [...]
Morning Summary: The commodity complex was mostly in the green early Thursday following two days of solid selloffs. Let’s start with the US dollar index as the greenback is in the red pre-dawn. From a technical point of view the [...]
Morning Summary: The commodity complex was mixed early Wednesday morning following another quiet overnight session. The US dollar index was showing a small gain, this time around the clock accompanied by an equally small rally in US stock index futures. [...]
Morning Summary: I wasn’t necessarily surprised by how quiet markets were overnight given how manic Monday turned out to be. Nearly every market sector showed me the same thing Tuesday morning: Contracts posting small changes on low trade volume. What’s [...]
Morning Summary: The first thing that came to mind as I ran the traps of the various sectors in the commodity complex Monday morning was Benjamin Franklin. I haven’t gone through all the contracts of all the markets, but two [...]
Morning Summary: A look at the market landscape early Friday morning shows me all’s quiet on the commodity front. Well, maybe not all, as the metals sector posted a decent rally overnight. Here we see May silver leading the way [...]
Morning Summary: Running the traps early Thursday morning, and I largely came up empty. Sure, all the markets moved overnight but nothing jumped out at me as particularly newsworthy. The US dollar index was stronger as it continues to chop [...]
Morning Summary: It’s the first day of March meaning the first day of meteorological spring. As I was pulling charts this morning for Monthly Analysis, a few jumped out at me. First was natural gas as the spot-month contract came [...]
Morning Summary: We have reached the last day of February, the last day of meteorological winter. Today is also first notice day for delivery against March futures contracts and a look at the CME Registrar report early Tuesday shows some [...]
Morning Summary: I had to think a bit on what to title today’s Morning Commentary, but in the end basically came up with “Ditto Friday”. Markets were mixed then and mixed again this morning, with the grain and oilseed sector [...]
Morning Summary: The commodity complex was mixed pre-dawn Friday, almost as if traders were groggy from all the activity seen this US holiday-shortened week. Let’s start this morning with a look at the US dollar index, the greenback showing a [...]
Morning Summary: Wednesday evening I received a message from my friend and RFD-TV host Marlin Bohling. He had attached a Reuters news story with the lead, “Brazil to halt beef exports to China after mad cow disease case”. A couple [...]
Morning Summary: The Barchart Futures Market Heat Map is colourful early Wednesday morning, ranging from yesterday’s dark green livestock sector (these markets don’t trade overnight but still register on the map) to a bright red energies sector. In between we [...]
Morning Summary: We are reminded again Tuesday morning that markets are not localized, but global. We had a hunch soybeans and soybean meal would react to reports of Saturday morning frost across parts of Argentina, and the markets moved overnight. [...]
Morning Summary: Here we are, early Friday morning with a full day ahead of us until another 3-day US holiday weekend. While we have that to look forward to, something tells me Friday is going to make us work for [...]
Morning Summary: A look at the Barchart Futures Market Heat Map early Thursday morning shows most commodity market sectors are back in the green. Energies led the way as our old friend natural gas rallied as much as 7.8 cents [...]
Morning Summary: No, I’m not being sexist this morning and also no, I’m not getting into the whole gender debate, but a look at the Barchart Futures Market Heat Map Wednesday morning indicates markets in general must be made up [...]
Morning Summary: If you happen to have missed it, today is the national greeting card company day when one is obligated to go buy something, at this point anything, for their significant other. That is my public service announcement for [...]
Morning Summary: This past weekend saw endless talk of UFOs and unmatched hype over the Super Bowl here in the US. In regard to the latter, the Kansas City Chiefs came back to beat the Philadelphia Eagles 38-35. As for [...]
Morning Summary: What one word would I use to describe early Friday morning’s markets? Cautious? Tentative? Foreboding? It just feels like the various sectors are set to make a big move Friday given overnight trade volume was up, yet a [...]
Morning Summary: The first thing that jumped out at me about Thursday morning’s markets was it looked like another layer of lasagna[i] being made in soybeans. I’ll talk about it in more detail in a bit, but a quick summary [...]
Morning Summary: A look at this morning’s Barchart Futures Market Heat Map shows a lot of green, with energies the strongest sector overall. Distillates was leading the way with a gain of 5.3 cents (1.8%), followed closely by natural gas [...]
Morning Summary: A quick check of the markets this morning shows us some markets are playing the usual Turnaround game, most notably corn and soybeans, while a number of others are continuing along the paths started Monday. In this latter [...]
Morning Summary: As I said in Quick Takes Sunday night, I’ve been thinking a lot about the Chinese spy balloons found floating all over the world. I’m in the process of putting all these thoughts into a Column. I was [...]
Morning Summary: We’ve made it to another Friday, the last day of what has been an incredible week. So far we’ve seen the end of one month and beginning of another, bringing with it the usual long-term monthly technical and [...]
Morning Summary: Good morning, and now we go live (not really) to Punxsutawney, Pennsylvania for an update from our weatherman. Phil, take it away. “Well, it’s Groundhog Day…again…and that must mean we’re up here at Gobbler’s Knob for the forecast [...]
Morning Summary: Welcome to February everyone! We jump immediately into the new month with an announcement on interest rates from the US Federal Open Market Committee (FOMC, the Fed) this afternoon. My thought is we will see another 50-basis point [...]
Morning Summary: Here we are, pre-dawn on the last day of January 2023. Like many of you, I’m not sure how we got here so quickly from New Year’s Eve 2022, but we arrived in the blink of an eye, [...]
Morning Summary: The first thing that jumped out at me Sunday night was the same thing I saw on the Barchart Futures Market Heat Map early Monday morning. The grain and oilseed sector was leading the way in commodities, and [...]
Morning Summary: Generally speaking, the commodity complex was quiet overnight with the exception of a few markets in softs and energies. A look at the Barchart Futures Market Heat Map shows an early sugar rush as the nearby March contract [...]
Morning Summary: Most markets were quiet early Thursday morning, almost as if sitting and marveling at the pre-dawn stillness. My initial check of the various commodity sectors shows me two markets as outliers, one on each side of unchanged. In [...]
Morning Summary: A quick check of markets early this fine Wheat/Whisky Wednesday morning shows us much the same thing as we saw at Tuesday’s close. The US dollar index is quietly stronger, putting light pressure on the euro and Canadian [...]
Morning Summary: I know as soon as I say, “It’s a quiet morning”, things will explode once again, but as I look across the commodity complex landscape I don’t see any overtly shocking moves. I can hear your question, “What [...]
Morning Summary: It is indeed Monday morning, pre-dawn on the first day of a new 5-day trading week. The next holiday – President’s Day – is now four weeks away meaning we can get back into more of a routine, [...]
Morning Summary: We’ve reached Friday morning, one more day until another US holiday-shortened trading week comes to an end. Even though there has only been four business days this week, a number of markets have made big moves. In fact, [...]
Morning Summary: I don’t really have a reason for using the classic Statler Brothers song as the title of this piece (Flowers on the Wall), other than I just happened to stumble across it on social media as I was [...]
Morning Summary: The commodity complex made a good deal of noise overnight, like the home crowd at a rivalry game for whatever sport when its team has its hated opponent on the ropes. Something commentators often say about just such [...]
Morning Summary: I was all set to start this week off writing about how the commodity complex in general was in the red early Tuesday morning, and then I checked the energy sector. Lo and behold, markets had rallied in [...]
Morning Summary: Theoretically, Friday’s session should have fewer fireworks than Thursday’s trip through the (data) dump. However, we have to keep in mind it’s the session before another 3-day holiday weekend here in the US. Often we see markets take [...]
Morning Summary: Yes, today is the day we get to go to the dump, as in a government data dump, also known as USDA’s January report day. (You can make the connection to trash if you so desire.) And as [...]
Morning Summary: Yesterday in this space, I talked about how the Barchart Futures Market Heat Map was showing a lot of non-green colors indicating markets were under different degrees of pressure. Fast forward to early Wednesday morning and we find [...]
Morning Summary: A look at the Barchart Futures Market Heat Map early Tuesday morning shows us a lot of non-green colors. In fact, as far as sectors go the only one in the green is livestock because it didn’t trade [...]
Morning Summary: After running the traps of the various market sectors early Monday morning[i], I was ready to title this piece “A Belated Silent Night”. Most sectors were quiet, starting with global currencies, though I am interested to see what [...]
Morning Summary: We’ve reached January 6, 2023, two years removed from the attempted overthrow of the US government, and little has happened to the perpetrators of the insurrection (for further discussion, see my reposts in Quick Takes and Weekly Column). [...]
Morning Summary: The first market headline that jumped out at me Thursday morning was Germany’s Miro refinery, reportedly the country’s second largest oil processing facility, said unplanned maintenance would take about four weeks to complete. Whether this was the catalyst [...]
Morning Summary: As I ran the traps of the various market sectors early Wednesday morning, it was interesting to see how many individual markets were caught up in some form of Turnaround activity. Most notable was the US dollar index, [...]
Morning Summary: The first thing that jumped out at me as I checked the various market sectors early Tuesday morning was the strength of the US dollar index. I had mentioned over the weekend in Monthly Analysis that while still [...]
Morning Summary: We’ve reached the morning of the last trading day of 2022, and what a year it has been. I could wax poetically for pages about all that has transpired the past 12 months, but it’s better to drive [...]
Morning Summary: Generally speaking, it was a quiet morning Thursday with most sectors of the commodity complex in the red. Energies led the way down, the morning’s Barchart Futures Market Heat Map showing the sector with a composite loss of [...]
Morning Summary: As I checked the traps of the various market sectors Wednesday morning, the feature that stood out to me was that nothing stood out to me. Some sectors were seeing turnaround activity from Tuesday’s opening salvo for the [...]
Morning Summary: With ag markets closed for holiday until later Tuesday morning, we have to look elsewhere for something to talk about to start the day. The US dollar index was under pressure coming out of the weekend with the [...]
Morning Summary: “Oh the weather outside is frightful…” A look at the temperature map (in Fahrenheit) this morning shows much of North America below zero as the cold air mass continues to expand. What is fascinating to me is sub-freezing [...]
Morning Summary: The 2022 Winter Solstice brought a blizzard across the US Plains and sub-freezing temperatures from Portland, Maine to Portland, Oregon. As I look outside this morning, the song “Walking in a Winter Wonderland” comes to mind, except for [...]
Morning Summary: We’ve reached the Winter Solstice meaning today will be the shortest day of the year. Another way to look at it is it will also be the longest night of 2022. Given this, maybe we can change the [...]
Morning Summary: A look at the temperature map on my Barchart system this morning and the first thing that came to mind is nearly all North America looked like a nasty bruise. From ugly purples to dark blues, it looked [...]
Morning Summary: I won’t go so far as to say the night was silent through early Monday morning, after all we have the Widow Maker showing a 6.3% loss overnight, but it was a quiet night. A number of markets [...]
Morning Summary: A look at Friday morning’s Barchart Futures Market Heat Map shows every commodity sector in the red, a situation I like to call The Red Cs (Commodity Complex). What makes today’s edition more interesting is the fact the [...]
Morning Summary: We made it through another US Federal Reserve announcement day, and the world continues to turn. As I ran the traps on markets this morning after, the first thing that jumped out at me was the rebound of [...]
Morning Summary: All the talk Wednesday morning is of what the US Federal Reserve will do with the Fed Fund rate later this afternoon. Financial television has been an endless stream of debate on whether it will be a 50-basis [...]
Morning Summary: A look at the Barchart Futures Market Heat Map early Tuesday morning shows a lot of green. Out of the markets that trade overnight only coffee is showing a small loss at this writing. The US dollar index [...]
Morning Summary: For those of you keeping count, there is less than a fortnight (14 nights) until Christmas Day. Consider this your friendly reminder if, like me, you still haven’t started looking for that perfect gift and/or gifts. However, if [...]
Morning Summary: As I mentioned in Friday’s Chart of the Day, it was an interesting overnight session for the US dollar index. The greenback dropped to within shouting distance of its short-term downside target of 104.45, hitting a low of [...]
Morning Summary: As always, one of the first things I did Thursday morning was run the traps of the various market sectors. After the initial round, I pulled back from my desk and replayed the events of the morning leading [...]
Morning Summary: Early Wednesday finds a number of markets poised to make big moves over the course of the day, with our old friend the Widow Maker leading the way pre-dawn. A look at the Barchart Futures Market Heat Map [...]
Morning Summary: We all know the pattern by now, the oft talked about tendency of Turnaround Tuesday. Some markets got the memo as they reversed course from Monday, starting with the US dollar index. While the greenback only dipped 0.27 [...]
Morning Summary: Monday is all about crude oil coming out of a weekend that saw OPEC+ leaves its production cuts in place, EU price caps against Russian oil go into effect, and China loosen its zero-policy stance on Covid. From [...]
Morning Summary: There are a couple key talking points ahead of Friday’s session. While most of the commentary will be about November jobs data, the real headlines are the US Senate passed legislation to avert a rail strike by a [...]
Morning Summary: Yes, we have somehow reached December 1, the first day of meteorological winter across the Northern Hemisphere. It seems like both yesterday and an eternity ago the world was preparing for the 2022 Winter Olympics in Beijing, a [...]
Morning Summary: Somehow we’ve reached the last day of November, also known as first notice day for deliveries against December futures contracts. In the financial markets, the only sizeable initial delivery was seen in US Treasury 5-year note futures with [...]
Morning Summary: Reading through news related to markets early Tuesday morning and the common thread was stories out of China. First there was the slight relaxation of the Covid lockdown, in one story I read (though I’m not consistently finding [...]
Morning Summary: As you know, we are already into the holiday season so for the next month or so there will be a number of holly (red markets) and ivy (green markets) references. To get things rolling early Monday morning [...]
Morning Summary: By now your turkey should be brined and possibly going through the drying process, waiting to move into the roaster. Or, if like me, a family member already has a beef brisket smoking low and slow. However you [...]
Morning Summary: Lights are flashing red and green. Not a creature was stirring, not even a mouse. Did we flash forward, and the US Thanksgiving holiday is already in the past, putting us in that tryptophan-induced coma that last for [...]
Morning Summary: As we get rolling on this holiday-shortened week the US dollar index is showing some short-term strength. The greenback confirmed a short-term uptrend overnight as it hit a new 4-day high above 107.24. As of the writing the [...]
Morning Summary: There was a lot of chatter overnight that could come into play in markets over the course of time. The piece of news I found most interesting talked of how the US Treasury yield curve was now more [...]
Morning Summary: A look at the Barchart Futures Market heat map early Thursday morning shows a lot of red. Most of the markets in the green don’t trade overnight, the livestock sector and orange juice, with the other standout being [...]
Morning Summary: Here is a quick recap of how my early Wednesday morning progressed: As usual it started with a quick double-shot of espresso, then a check of the markets. The US dollar index was falling again, down as much [...]
Morning Summary: There are mornings when one market jumps out at you, and this morning that market is the US dollar index. As always, I started the process of running the traps of the various market sectors with global currencies, [...]
Morning Summary: It has been an interesting morning already as US President Biden and China’s President Xi are meeting in-person for the first time since Mr. Biden took office. Preliminary statements from both leaders talked of finding a way forward [...]
Morning Summary: By the time you read this, the “11th hour of the 11th day of the 11th month” will have already passed in France. Whether you call it Armistice Day, Remembrance Day, Veterans’ Day, or something else, I hope [...]
Morning Summary: There are a number of storms brewing all around the United States, starting with Hurricane Nicole making landfall along Florida’s east coast and quickly downshifting back to a tropical storm. Further north and to the west, a cold [...]
Morning Summary: Not a market was stirring overnight through early Wednesday morning, not even natural gas. A look at the Barchart Futures Market Heat Map shows a lot of red, but a closer inspection shows most sectors and markets posting [...]
Morning Summary: Other than natural gas, which knows not what ‘calm’ means, the commodity complex in general was relatively quiet overnight. There is a storm brewing, and no, I’m not talking about Subtropical Storm Nicole that is making its way [...]
Morning Summary: Some financial markets reversed course overnight, led by the US dollar index losing its initial buying momentum to sit in the red early Monday morning. The index continues to indicate a top is in place, though as discussed [...]
Morning Summary: It’s always interesting the difference 24 hours can make when it comes to markets. Recall yesterday in this space I talked about how every market sector that traded overnight was in the red, due in part to a [...]
Morning Summary: A close look at the Barchart Futures Market Heat Map early Thursday and three markets stand out for showing green: The US dollar index, feeder cattle, and orange juice. However, if we consider feeders and orange juice don’t [...]
Morning Summary: As I was reading through the news early Wednesday morning I noticed the grain and oilseed sector was coming under increased pressure. I then found a Bloomberg story that read, “Ukraine’s grain export corridor will resume operations as [...]
Morning Summary: The morning after Halloween sometimes leaves folks in a daze as a result of crashing from the previous night’s sugar rush. The other reality is that we have entered the last month of autumn meaning winter is a [...]
Morning Summary: I’ll talk more about the grain and oilseed sector in general, the wheat sub-sector in particular in a bit, but a quick summary is markets were able to hold initial overnight strength through early Monday morning. The same [...]
Morning Summary: A close look at the Barchart Futures Heat Map shows us three markets in the green: The US dollar index as it continues to recover from the sharp selloff seen early this week, Class III milk, and cocoa. [...]
Morning Summary: Thursday morning shows us a mixed market picture, not necessarily with rallies and selloffs for we know there is almost always some of both, but rather markets following Wednesday’s path while others reversed course. The US dollar index [...]
Morning Summary: It was another tough night for the US dollar index as the greenback fell as much as 1.01 and was still sitting 0.64 lower at this writing. There is something brewing in global investment markets, something that ties [...]
Morning Summary: Given it is Halloween season, I thought I was in a spooky Twilight Zone episode as I ran the traps of the various market sectors early Tuesday morning. Or maybe it was because Major League Baseball’s World Series [...]
Morning Summary: I can’t go quite as far as calling early Monday a mixed morning, with most sectors in the commodity complex sitting in the red. Many of the outliers are in softs where cotton is fractionally higher while coffee [...]
Morning Summary: “I heard the news today – oh boy.” Many of you likely recognized this as the opening line to the Beatles song “A Day in the Life”. I had the CNBC program Worldwide Exchange on in the background [...]
Morning Summary: As you can tell from the title of this piece, the thought of having collard greens for breakfast crossed my mind. The only problem is I don’t have any collards, and I wouldn’t know what to do with [...]
Morning Summary: The commodity complex is mixed to start the day, with overnight trade generally quiet. A look at the Barchart Futures Market Heat Map (see attached) shows the energy sector is leading the way pre-dawn with a combined gain [...]
Morning Summary: A quick check of the traps this morning shows me most of the markets are not taking part in Turnaround Tuesday, but rather following the same path laid out during Monday’s session. Notable among the markets not making [...]
Morning Summary: I know many of us approach the start of a new week like the cartoon character Garfield the Cat. Garfield was famous for the phrase, “I hate Mondays”, and was known to pull the blankets up over his [...]
Morning Summary: Somehow, we’ve made it to Friday morning with only one more day session until we reach the weekend. It has been a active week for most markets, none more so than US stock indexes that have posted a [...]
Morning Summary: Markets were quietly mixed early Thursday morning, ahead of another round of inflation data with the September Consumer Price Index (CPI) set for release at 8:30 (ET). At the same time, the latest weekly jobless claims numbers will [...]
Morning Summary: Traders in nearly every market sector are gearing up for the release of some sort of government number Wednesday, and isn’t that just a little bit sad? In financials, all the talk is about the next round of [...]
Morning Summary: A quick check of the headlines Tuesday morning shows us not much changed overnight as Russia continues to rain down missiles on civilians in Ukraine. Meanwhile, the Bank of England has “intervened in bond markets” for the second [...]
Morning Summary: There was a lot going on this weekend, with most of the news coming from Ukraine. Going back to last week there were reports (rumors?) of Russian trains taking nuclear weapons to the front, chatter the markets largely [...]
Morning Summary: It’s hard to believe we have already reached the last day of the week of the first month of the fourth financial quarter. It seems like only yesterday when we were talking about the end of September, but [...]
Morning Summary: Now that all the fireworks associated with the start of a new week, month, and quarter are behind us and the private jets adorned with gold and jewels are leaving Vienna, it’s back to the grind for most [...]
Morning Summary: Financial television was dominated by two stories early Wednesday morning, one important and one infuriatingly trivial. However, both are perfect reflections of the times we live in and share a common connection to US mid-term elections. The important [...]
Morning Summary: Welcome to a new week, a new month, and a new financial quarter. As markets get rolling we already see some sectors with a changed tone, most notably energies. Both Brent and WTI crude oil are up more [...]
Morning Summary: A classic line from the 1984 movie “This Is Spinal Tap” has one of the main characters explaining how the volume on his amplifier goes up to eleven rather than the standard 10. It’s a great scene, and [...]
Morning Summary: The first piece of news I saw Wednesday was a post from one of the early morning anchors on Bloomberg Television that read, “The euro hits 0.95 per dollar.” A quick check told be this was the weakest [...]
Morning Summary: I think it was last Thursday when I gave a quick rundown of how a week tends to play out in the world of markets. Friday and Monday are the most active. Tuesday is the last day of [...]
Morning Summary: The big news that wasn’t news over the weekend was the rumored coup in China that supposedly had overthrown President Xi. Had it been true, and we still don’t know what is going on in that part of [...]
Morning Summary: The first thing that jumped out at me Friday morning was another dazzling move by the US dollar index as it raced to an overnight high or 112.33, finally taking out the high from June 2002 of 112.04. [...]
Morning Summary: For those of you not following the meteorological calendar, the one that has September 1 as the first day of fall, your seasons officially change today with the fall equinox. What does this have to do with markets? [...]
Morning Summary: The first news I read Wednesday morning was of global markets reacting to the Madman Across the Water (Putin) instituting a draft to provide him more bodies to sacrifice in Ukraine. While this was some of what drove [...]
Morning Summary: A look at markets pre-dawn Tuesday shows us a generally quiet landscape as traders gear up for Wednesday’s US Federal Reserve interest rate hike announcement. The US dollar index is back in the green to start the day [...]
Morning Summary: Welcome to a new week, though I don’t blame you if you think we are caught in an endless loop when it comes to markets. A quick check of the commodity complex shows us much the same thing [...]
Morning Summary: One of the last headlines I saw Thursday evening before collapsing into pleasant dreams of my trip to Chicago (no, really) was that one of the three rail workers’ unions did not ratify the tentative agreement announced earlier [...]
Morning Summary: If the overnight session is any indication, Tuesday’s session in the commodity complex should be much quieter than what we saw Monday. A number of markets were tossing around, as if simply trying to get comfortable again, while [...]
Morning Summary: The commodity complex was largely glowing green again, similar to what was seen last Friday. Much of it is likely due to renewed selling in the US dollar index as the greenback lost as much as 1.16 overnight, [...]
Morning Summary: It was interesting to see nearly every market taking part in this week’s Green Friday[i]. While most commodities were showing gains of 0.75% to 1.5% pre-dawn, Dr. Copper once again led the way with a rally of more [...]
Morning Summary: Most markets were much quieter than they were 24 hours ago, starting with the US dollar index. The greenback stabilized overnight following Wednesday’s wild session that saw it fall more than 1.00 off its new 20-year high. Early [...]
Morning Summary: The star of the overnight session into early Wednesday morning is once again the US dollar index. The greenback extended this month’s rally to 110.69 and for now is showing no sign of slowing its ascent. I did [...]
Morning Summary: As we come out of the US Labor Day 3-day holiday weekend, the last of the year, markets are an interesting mix. I, like so many others, traveled this past weekend and from what I could tell gasoline [...]
Morning Summary: Friday morning shows the commodity complex in general taking a few tentative steps out of the hold most markets fell into Thursday, seemingly wary of being eaten by bears pre-dawn. The grain and oilseed sector was mostly higher, [...]
Morning Summary: Today is September 1, the first day of meteorological fall, and I’m sure you all have your pumpkin spiced latte on hand as you read this Commentary. A quick check of the various market sectors shows us not [...]
Morning Summary: We’ve made it to Wednesday, sometimes known as Hump Day or Whisk(e)y Wednesday. This time around, though, it goes by a number of other names as well. It’s the last day August making it also the last day [...]
Morning Summary: All it takes is a quick glance at the quote screen early this morning and the phrase comes to mind. In fact, I was asked mid-morning Monday about the possibility of such a thing happening, so entrenched is [...]
Morning Summary: It’s hard to believe, but we’ve already reached the last Monday of meteorological summer here in North America, the last Monday of winter south of the equator. I’ll talk more about the changing of the seasons in my [...]
Morning Summary: I don’t know why, but today started out much earlier than normal. When that happens, I put on the Frank Sinatra “Wee Small Hours of the Morning” album and start making coffee. As I sit and type this [...]
Morning Summary: The grain and oilseed complex continued its fast and furious rally overnight through early Wednesday morning with December corn gaining as much as 11.5 cents while November soybeans jumped as much as 19.25 cents. Trade volume was decent, [...]
Morning Summary: The commodity complex was rocking and rolling again early Tuesday with nearly every market of every sector “turned up to 11” (Those of a certain age will get that reference). Starting with energies this morning, the star of [...]
Morning Summary: It’s another Mixed Market Monday Morning, or simply a 4M kind of day as we move another week closer to fall. On the meteorological calendar, this is the last full week of summer, with autumn set to begin [...]
Morning Summary: Feel free to have the old Supertramp song, “It’s Raining Again” playing in the background as a look at Friday morning’s radar shows some rain falling across parts of the US Midwest while the 3-day precipitation outlook calls [...]
Morning Summary: Every morning when I run the traps of the markets, I always start with global currencies. As has been the case most of this week, the US dollar index is in the green meaning the euro is under [...]
Morning Summary: My last look at the grain and oilseed sector Tuesday evening showed me markets were in the green. Not by much, but green nonetheless. As I made my first morning cup of coffee Wednesday, my mind immediately clicked [...]
Morning Summary: Monday’s rainy day carried into early Tuesday morning, with the 24-hour precipitation accumulation map showing the type of color that tends to change trends in corn and soybeans. I know there is a great deal of debate over [...]
Morning Summary: The grain and oilseed complex again showed why I consider it a collection of weather derivatives as weekend weather patterns did more to change the flow of trade than last Friday’s USDA silliness. First, more rains than expected [...]
Morning Summary: I don’t know about you, but I’m already looking forward to Friday’s close. It has been a wild week for most markets and based on both the Wilhelmi Element[i] and the Goldilocks Principle[ii] the only price that should [...]
Morning Summary: Markets were much as we left them Wednesday afternoon, with only a couple exceptions. Gold was in the red, slightly, as the heat seems to have been turned down ever so slightly under the China/Taiwan/US situation. It’s possible [...]
