Trading Recommendations For Commodities Futures

By Marc Nemenoff
02 June 2009 @ 09:26 am EDT

Grains: Yesterday Beans were 34 cents higher, Corn 9 higher and Wheat 37 higher. Over night Beans were 3 lower, Corn about 5 lower and Wheat 9 lower. We remain long out of the money calls and/or call spreads in July Corn. Yesterday’s Crop Progress Report showed: Corn planted at 93% versus 82% a week ago and a 5 year average of 97%. The market was expecting about 94%. Corn emerged 73% versus the 5 year average of 86%. For Beans, planted 66% versus 48% a week ago and a 5 year average of 79%. If July Corn trades above the 450’0 level I will be looking to start taking profits on our July Corn option positions.

IBTimes Commodity Commentaries

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