Home / Markets / Markets Analysis / Joe Victor: Commodity wrap-up for business day 6/13/08

Joe Victor: Commodity wrap-up for business day 6/13/08

Agriculture.com Staff 06/16/2008 @ 9:00am

Historical Price Trends: best odds for the week of June 16, according to our HPT page is for CBOT July corn. Over the most recent ten years, odds of 80% for lower corn futures than where they closed on Friday of the previous week. On average July corn 70% of the time has closed 7 cents lower. Please see the HPT page for the complete list for grains and livestock.

For The Week: for the week, July corn futures value increased 12.6%, July soybean futures value increased 7% and July CBOT SRWW value increased by 8.7%, July crude oil value decreased 3%.

For The Month: thus far for the month of June, July corn futures value up 22%, July soybean futures value increased 14.4% and July CBOT SRWW value increased by 15.7%.

Technicals: For the short term trader, Allendale uses its own unique custom Moving Averages to monitor price momentum, define key support and resistance levels as well as advise where key pivot points are located when bulls may turn bearish and bears to turn bulls. We also include last weeks closing price for the weekly chartist as we draw closer to the end of the week to anticipate the possibility for futures to have a positive weekly close or if weakness is ensuing. A detailed technical look at the grains and livestock are available within our Allendale Advanced Charts.

  Corn Futures Close Moving Ave #1  Moving Ave #2 Pivot Last Wks Close
Jly 7316 6810 6610 5040 6506
Dec 7650 7100 6890 5120 6776

 

  Bean Futures Close Moving Ave #1 Moving Ave #2 Pivot Last Wks Close
Jly 15600 14300 14140 12310 14574
Nov 15310 14180 14040 11570 14394

 

  Wheat Futures Close Moving Ave #1 Moving Ave #2 Pivot Last Wks Close
Jly   CBOT 8820 8530 8110 8120 8110
Jly   KCBT 9242 8920 8480 8480 8466
Jly   MGEX 10542 10280 10030 9630 10272

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