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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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From: Jimfutu28	6/14/2011 5:12:25 AM
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The Softs Review For the week of June 13th, 2011 We are going to review the soft markets this week under the analysis by our expert - Pitguru Jurgens H. Bauer. As the US dollar has started to attract some buy side interest be aware that the direction the dollar takes will help determine and influence the direction taken by the Soft complex in general. I still don't have a long term positive assessment on the dollar, but in the near term it does look like it can move higher. Besides, what are the alternatives? Here are a few things to look for this week: Look for Sugar, SBN to get over 26 and try for 27 cents as it is trending upward. I think traders should take advantage of reasonable dips to play the long side, but be cautious on any close below 2450 this week. As I see it, 2500-25320 should provide support. Demand is obvious near term and recent crop stresses and physical tightness in supply will help. Watch Coffee, with KCU now the focus month, it ought to remain in the range between 257-256 support and resistance at 276-277 for now. I believe those levels can, and will, be tested. However, I expect for the market to follow through on a herd mentality with a break of either side. Cocoa, may well stage another effort at a rally, but only if the dollar doesn't strengthen too much. Cotton, with July options now done, (CTN pinned 150 for Friday's expiration) will be about the N/Z spread before focusing in on the new crop CTZ. Pressure on CTZ should be minor as there is still a lot of concern about crop conditions. While CTZ ought to be influenced by.... Read more at pitguru.com

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