Marc Nemenoff
PRICE Futures Group
Financials: June Bonds are currently 10 lower at 132’24 and the 10 Yr. Note 3 lower at 123’12. We continue to hold the long 10 Yr. note/short Bond spread which is currently 18 points against us at 9’13 premium the Bonds. We continue to hold short biased positions in Eurodollar futures and options. We have taken partial profits in Eurodollar futures in June 2015 and further deferred contracts.
Grains: May Corn is currently 2’6 lower at 483’6, May Beans 5’2 lower at 1422’6 and May Wheat 6’2 lower at 702’0. Informa ( a private forecasting entity) came out with acreage projections yesterday: Corn 93.0 million acres vs. 95.4 last year. Beans 81.2 vs. 76.5 a year ago. Wheat 56.6 vs. 56.2 last year. No real surprises, the trade has been expecting an increase in Bean acreage and a decrease in Corn. I am currently on the sidelines. I will be a buyer below 465’0 in May Corn and below 1385’0 in May Beans. Planting intentions report on Monday at 11:00am.
Cattle: June LC are currently 70 higher at 137.12 and May FC 70 higher at 178.80. If you remain short June LC from above the 137.00 level use a protective buy stop at your break even level. We remain long the May FC 168.00 put. If you remain long the June Hog 120.00put either take profits (currently at 3.425) or roll down into the 116.00 put at 115 points or better premium the 116 put. Hogs and Pigs Report Friday afternoon.
Silver: May Silver is currently 7 cents higher at 20.05 and June Gold $2.00 higher at 1313.50. We have gone long June Gold below the 1310.00 level and will currently use a protective sell stop at 1292.00. If Gold trades above 1320.00 either take profits or raise your sell stop to 1301.00. We remain long Silver and are currently using a protective sell stop at 19.87 on additional contracts purchased in the 20.50 area.
S&P's: June S&P’s are currently 6.00 higher at 1865.25. We are once again looking to the short side of this market on rallies with protective buys in the 1885.00 area. Support is currently 1842.00 and resistance 1867-1872.00.
Currencies: As of this writing the June Euro is currently 35 lower at 1.3790, the Swiss 41 lower at 1.1295, the Yen 13 lower at 0.9770 and the Pound 18 higher at 1.6539. If you went short the Euro in the 1.3825 area either take the short term profit or use a protective buy stop at 1.3867. If the market trades below 1.3765 vlower your stop to break even level.
Futures and options trading involves substantial risk of loss and may not be suitable for everyone. The valuation of futures and options may fluctuate and as a result, clients may lose more than their original investment. In no event should the content of this website be construed as an express or implied promise, guarantee, or implication by or from The Price Futures Group, Inc. that you will profit or that losses can or will be limited whatsoever. Past performance is not indicative of future results. Information provided on this website is intended solely for informative purpose and is obtained from sources believed to be reliable. No guarantee of any kind is implied or possible where projections of future conditions are attempted.
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