Since shifting the time period in which we look at the Power Rankings we’re two for two in the winner column as the markets begin potential new trends.
Although there seem to be significant market moves, risk/reward scenarios are not favorable this week. Consequently there are no trade suggestions for the Power Rankings at this time. There is a potential bullish trend beginning in Corn and Beans, as the Grain report and political drama capture headlines.
Live Cattle – Up 6 – Bullish
Despite a significant down move yesterday (6/6), the week is still strongly bullish. Traders, analysts and pundits have been calling for a steep sell off for months, but it has yet to materialize. Look for the Cattle on Feed Report later this month (6/23) for a more clear direction.
Soybeans – Down 9 Slightly – Bearish
Prices have stayed low for a while as beans had been replacing corn acreage throughout the Midwest. With an especially wet spring, supply and demand has been increasingly in flux. Note the WASDE (World Agricultural Supply and Demand Estimates) and crop production report on Friday (6/9).
[ ] – Associated Trade Rec (call your broker for more info)
[ ] – Market was UP
[ ] – Market was DOWN
VDO – Last Week’s Price Volatility in Dollar Terms (Volatility Dollar Opportunity)
Bias – Directional Trend
Rank – Based on the VDO
Volatility – Last Week’s Price Volatility
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