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BROKERSEDGE

BrokersEDGE 11/7/17 Grains

Grains CORN (December) Yesterday’s Close: December corn futures traded down a penny yesterday, trading in a narrow range of 2 ½ cent range on the day. Funds were estimated sellers of 5,000 contracts. Fundamentals: Yesterday morning’s export inspections came in at 444,648 metric tons, this was below the low end of the expected range from 500,000-700,000 metric tons. Yesterday afternoons crop progress report showed that corn is 70% harvested, this is in line with expectations but still lagging the five-year average by 13%. The three major laggards (in terms of %) are Colorado -26%, Wisconsin -26%, and Minnesota -27%. The...
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BrokersEDGE 11/7/17 Morning

E-mini S&P (December) Yesterday’s close: Traded to and settled at a new all-time high; 2590 and 2588.75 respectively. Fundamentals: The S&P put in another strong session yesterday and Asia leads the way this morning with the Nikkei up more than 1.5% and Russia up more than 2%, China and Hong Kong are both up around 1%. President Trump called for North Korea to “come to the table” on a nuclear deal in a speech in South Korea. The Kremlin said that he will visit with Putin at a forum in Vietnam this week. The tax-reform discussion will heat up and...
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BrokersEDGE 11/6/17 Recap

Recap   Euro (December) Session close: Finished down 1.5 ticks. Fundamentals: It was not Nonfarm Payroll on Friday that put pressure on the Euro, but the strongest ISM Non-Manufacturing read in 12 years. This morning the overall Services PMI data out of the Eurozone was better than expected along with PPI, but every region missed their mark. Ultimately, a weak tape from Friday carried over in through today in what was a quiet session. We have a lot on the docket tomorrow with Industrial Production data out of Germany is due at 1:00 am CT tomorrow, ECB President Mario Draghi...
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BrokersEDGE 11/6/17 Grains

CORN (December) Last week’s close: December corn futures squeaked out a ¾ cent gain on the week, trading in a narrow 6 ¾ cent range as the market continues to consolidate within tighter technical levels ahead of this week’s USDA report. Fridays commitment of trader’s report showed that funds increased their net short position by 28,369 futures and options contracts. This puts their net short at 202,763 contracts which is a record short position for this time of year. Fundamentals: We probably sound like a broken record saying that the market is searching for a fundamental catalyst to give this...
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BrokersEDGE 11/6/17 Morning

E-mini S&P (December) Last week’s close: Settled at a new all-time high out above resistance at 2582.75. Fundamentals: Global equity markets are unchanged to marginally lower in a cautious start to the week due to turmoil in the Middle East and ahead of a critical week for the new tax-reform bill. Saudi Arabia captured headlines throughout the weekend as their military shot down a ballistic missile over Riyadh fired by Yemen-rebels and the future king tightened his grip on power by arresting and freezing the assets of several prominent figures. Added to all of this, the Lebanese Prime Minister resigned...
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