The CRB TrendTrader report is Short Soybeans, Wheat, Corn, Meal, Oats, Rice and Long Bean Oil.
See full position report below.
Remember - day traders work for the markets - Trend Traders let the markets work for them, the Trend is your friend!
The CRB Futures Market Service is one of the oldest and most respected market letters in the industry since 1934.
Grains
Grain prices this morning are higher. May corn this morning is up +1-1/4 cents, May soybeans are up +5-3/4 cents, and May wheat is up +4-3/4 cents. The grain markets yesterday finished mostly lower. May corn closed unchanged, May soybeans closed down -26-1/2 cents, and May wheat closed down -3 cents. May corn and May soybeans fell to 1-month lows and May wheat plunged to a 5-month low. Bearish factors included (1) the decline in gasoline which undercuts ethanol prices and corn demand, (2) carry-over weakness in wheat prices after the USDA Wednesday hiked US wheat stockpiles to a 22-year high, (3) slack foreign demand for US corn after the USDA reported US corn sales in the week ended Mar 4 plunged -56% from a week earlier, and (4) concerns that more buyers of US soybeans will cancel purchases and seek supplies from South America after the USDA reported that buyers canceled 115,808 metric tons of US soybeans purchased in the week ended Mar 4. Bullish factors included (1) the weaker dollar, and (2) increased foreign demand for US wheat after the USDA reported that US wheat sales for the week ended Mar 4 quadrupled from the previous week.
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About CRB
The Commodity Research Bureau has been leading the world in commodities research and analysis since 1934. Based in Chicago, Illinois, the firm has been the innovator of the CRB Indices, as well as the publisher of the CRB Yearbook, Encyclopedia, CRB Price Charts, TrendTrader and Futures Market Service newsletters.
About CRB TrendTrader
In 1963, the Commodity Research Bureau developed a computerized trading system for the purpose of removing the emotional human element from market forecasting. Since then, countless trading programs, timing theories, and techniques have been designed and popularized by an even wider universe of individuals and companies for the purpose of "beating" the futures market. Yet, today, CRB's TrendTrader remains one of the oldest and most respected technical daily market letters.
TrendTrader system analyzes four different technical studies to categorize markets as trending up, sideways, or down. These four studies are a combination of moving average, price volatility, market momentum, and various time cycles. Support and resistance levels are recalculated daily and serve as "stops" when the market is in a trend phase and mark the breakout levels for new up or down trends when markets are in a sideways mode.
The system is for medium to long-term trading and is designed to maintain positions throughout minor and medium-term corrections. TrendTrader tracks over 79 markets, including foreign exchange (FX), stock indices, interest rates, metals, energies, grains, meats, foods & fibers and exchange traded funds (ETF).
