top of page

Across the Board


General

As highlighted yesterday, the grain report did not disappoint as a source of volatility with the corn acreage numbers providing a bullish input into a market that was structurally short. The 20 cent rally in corn and corresponding move up in soybeans gives hope to agriculture traders traders who trade the outrights and the spreads for the summer months. I spoke with a few of them yesterday and the glee in their voices was palpable.

Today opens the book on a new quarter that will be hard pressed to duplicate the record equity performance we witnessed in Q2. Today's ISM should provide a volatility event given the market's reactions to eco data in June (see retail sales and NFP).

Scoreboard

The moverboard is showing an inclination towards mean reversion trading strategies with pop ups and reversals in Platinum, gold, and silver. Beans are following through from yesterday's strength and crude is a market I will be watching intently.

Events

Sometime between 10 and 11 AM ET (approximate) - Florida and Texas Virus cases updated

ISM Manufacturing 10 AM ET - Survey 49.8

DOE Inventories 10:30 AM ET - Survey -200k Barrels

Strategy and Levels

Crude remains bid overnight following a stronger API data release. Accordingly, energy traders will be watching for some fireworks with the DOE release (see above) later this morning that follows ISM. CTAs will be assessing how gold responds to the $1800 an ounce level as it sits near multi-year highs and is foraging to new highs--hardly indicating that it will leave anyone behind.

John Netto

Author

 
 
 

Recent Posts

See All
Good News On the Jobs Front

This jobs number should ease some recession fears, although next weeks CPI will be a key indicator as we all know. Payrolls were up...

 
 
 
More Products to Manage Risk

It is incredible the products the CME Group keep developing to efficiently manage risk. Coming in October they will be releasing products...

 
 
 

Comments


Fractal Finance

872-225-2110 ext. 2

FAX: 872-225-2110

  • facebook
  • twitter
  • linkedin

©2023 BY QUANT TRADE, LLC. QUANT TRADE, LLC IS NOT RESPONSIBLE FOR CLIENT OR SUBSCRIBER LOSSES. TRADING FUTURES, STOCKS, FOREX AND OPTIONS INVOLVES THE RISK OF LOSS. YOU SHOULD CONSIDER CAREFULLY WHETHER FUTURES, STOCKS, FOREX AND OPTIONS ARE APPROPRIATE TO YOUR FINANCIAL SITUATION. YOU MUST REVIEW THE CUSTOMER ACCOUNT AGREEMENT AND RISK DISCLOSURE PRIOR TO ESTABLISHING AN ACCOUNT. ONLY RISK CAPITAL SHOULD BE USED WHEN TRADING FUTURES, STOCKS, FOREX AND OPTIONS. INVESTORS CAN LOSE MORE THAN THEIR INITIAL INVESTMENT. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THE RISK OF LOSS IN TRADING FUTURES OR OPTIONS CAN BE SUBSTANTIAL, CAREFULLY CONSIDER THE INHERENT RISKS OF SUCH AN INVESTMENT IN LIGHT OF YOUR FINANCIAL CONDITION. INFORMATION CONTAINED, VIEWED, SENT OR ATTACHED IS CONSIDERED A SOLICITATION.

bottom of page