Market Analysis

Corn futures caught a bid yesterday on some good export news, sales of 255,224 metric tons to Guatemala and Unknown (presumably South Korea) were reported. Export sales this morning came in at 1,006,900 metric tons, 28% higher than last week and 92% above the 4-week average.
Oil prices are at ground zero for the market-related fallout from the SARS-like coronavirus, a virus called 2019-nCoV. While the stock market is already looking past the disease after the World Health Organization (WHO) said it was too early to declare an international emergency,
Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.
Each afternoon Ira Epstein gets you up to speed on what happened in the metals futures markets. He focuses on relevant economic and geopolitical topics that affect the precious metals and base metal markets.
The news of the spread of coronavirus outside the Chinese city of Wuhan and the first confirmed case in the United States have pressured crude oil prices. The concern is that the Chinese economy will be harmed and reduce global demand for crude oil.
With little economic data to key on, markets instead focused on the Wuhan coronavirus outbreak and its possible ramifications. Futures chugged steadily higher throughout the morning, only to retreat later in the session as nerves calmed.
Crypto is lower this morning, with most in the Top 10 down at least -3%. Spot volumes have remained in line with what we've seen over the last 3-days.
March corn futures were little changed yesterday, with little new news hitting the wires. Export sales are pushed back to tomorrow morning. As noted for the last week, we believe option expiration will continue to keep a lid on the market at 390.
The crude oil market got hit with a bad case of coronavirus fear that has killed 17 people and has infected at least 500 others. It also infected the market, and oil prices plummeted after reports came out that China quarantine two major cities.
Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.