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Soybean Futures Price Up on Low Inventory Reports

Top Day Rec

05.04.09

UK is closed for a banking holiday. Japan is closed for a spring celebration. Itís been rumored that all US banks tested will pass the stress test of the Fed. Chinese industrial production is up for the first time in nine months. Soybeans pop on low inventories. A ferocious lobbying battle looms in the headlights as the President seeks to turn back currently legal offshore tax breaks for major corporations which save them in excess of 190 billion annually.   

 

May 04

10:00

Construction Spending

Mar

 

NA

-1.4%

-0.9%

 

May 04

10:00

Pending Home Sales

Mar

 

NA

0.0%

2.1%

 

May 05

10:00

ISM Services

Apr

 

NA

42.0

40.8

 

May 06

08:15

ADP Employment Change

Apr

 

NA

-643K

-742K

 

May 06

10:30

Crude Inventories

05/01

 

NA

NA

+4053K

 

May 07

08:30

Initial Claims

05/02

 

NA

NA

NA

 

May 07

08:30

Productivity-Prel

Q1

 

NA

0.9%

-0.4%

 

May 07

08:30

Unit Labor Costs

Q1

 

NA

2.5%

5.7%

 

May 07

15:00

Consumer Credit

Mar

 

NA

-$3.3B

-$7.5B

 

May 08

08:30

Average Workweek

Apr

 

NA

33.2

33.2

 

May 08

08:30

Hourly Earnings

Apr

 

NA

0.2%

0.2%

 

May 08

08:30

Nonfarm Payrolls

Apr

 

NA

-620K

-663K

 

May 08

08:30

Unemployment Rate

Apr

 

NA

8.9%

8.5%

 

May 08

10:00

Wholesale Inventories

Mar

 

NA

-1.0%

-1.5%

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current views, speculations and suggestions

 

June Yen: neg with res at 10135  

June Swiss: positive with support at 87.42

June EC: positive with support at 131.57   

June Canadian: positive with support at 83.90

June BP:  pos with support at 148.06.     

June ES: positive with support at 866.25

June NQ: positive with support at 1385  

June Russell: positive with support at 482    

June Mini Dow: positive with support at 8090

Jun Gold: potential reversal day    

July Silver: pos with support at 12.15

June crude: positive with support at 51.20         

July Soybeans: positive with support at 10.58

July Wheat: positive with support at 5.45

June Ten Year: neg with res at 12113       

**************

International Markets

June Bund: neg with res at 122.80        

June Dax: pos with support at 4725

NK: pos with support of 8810

***********  

N.B.: if you initiate a trade using any of these numbers use a stop at least equivalent to 2 Ĺ%. Repeat: use stops.  Donít think about using stops. Use stops.   

 

 Please feel free to visit www.vfmarkets.com.  For those without accts use 999999 and 5236 as a pin for access.  (pin changes monthly) 

Charles Kespert

********************************************    

Futures trading entails considerable risk and is not for everyone. An account can lose more than its initial investment. Stops are not necessarily filled at the stop level. Past performance is not a guarantee of future results.

 

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

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