Written Commentary
OPENING COMMENTS
The Probability of the Fed keeping the federal interest rates the same on March 19th is over 97%. Today’s FOMC meeting minutes will be released at 1:00pm today and could move the US dollar, treasury yields, gold and ultimately commodities.
Natural Gas has jumped to $4.18 on the March board due to the cold winter weather hitting both the US and Europe. There is a cold snap expected to hit northeastern Europe this week and North America is currently in the middle of Polar vortex-related Arctic outbreak.
The Commodity Research Bureau Index is reaching the top end of it’s current range. This chart below is from the beginning of 2022 to today. This index tracks the prices off 19 raw materials and is treated like a benchmark for commodity ETFs.
EXPORT & WORLD NEWS
Saudi Arabia has bought about 920K MT of wheat as of Monday. Taiwan bought 65K MT of animal feed corn and would like to double that in another 65K MT purchase.
Malaysian palm oil futures were up 169 ringgit overnight, now at 4673.
Daily Trading Limits: Corn $0.30 (expanded $0.45); Soybeans $0.85 (expanded $1.30); Minneapolis Wheat $0.60 (expanded $0.90); KC Wheat $0.40 (expanded $0.60); Chicago Wheat $0.40 (expanded $0.60)
>>Interested in more commentary by Joe Mauck? Go HERE
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.
