Technically Speaking
Darin Newsom DTN Senior Analyst

Wednesday 01/16/13

March Chicago Wheat Turns Up
Like corn, the March Chicago wheat contract has established an uptrend with this week's rally.[Read Full Blog Post]
Posted at 7:03AM CST 01/16/13 by Darin Newsom | Post a Comment
Comments (2)
Soybean question: Today is Jan. 18th, but in comparative terms it is July 18th in the South American growing season. Often the high for soy futures for a crop year will occur in mid-July in North America and then begin the slow decline to the harvest low. Has the importance of South American production become strong enough to have the same effect on CBOT prices?
Posted by RICHARD JAMESON at 7:20AM CST 01/18/13
Sorry for my slow response again Richard. I was planning on posting a blog using soybeans seasonal chart, but thought it quicker to write out a short answer. You bring up an interesting question about the role of South American soybean crop development. The five-year index (weekly close, soybean futures) shows the market tends to trend sideways from mid-January through mid-April, roughly the equivalent of mid-July through mid-October in South America. However, futures again turn their focus to the US crop and crop conditions, pushinng the market to its seasonal high in early July. The lull seen over late-winter, early-spring could certainly be due in part to seasonal pressure from South American proudction. Thanks again for your input and questions.
Posted by DARIN NEWSOM at 10:22AM CST 01/22/13
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