| Your Research Library
online! CONSENSUS is one of the largest online resources of in-depth research
for trading the markets. CONSENSUS is The Investment Newspaper used daily
by stock and futures traders
can now access FREE an
article daily from the continuously updated
CONSENSUS National Futures and Financial ONLINE newspaper.
CONSENSUS National Futures and Financial Weekly
has been serving its customers for 39 years with the latest, most up-to-date
news and analysis in the stock and futures marketplace. We continue to
serve our readers today with market letters, special reports, fundamental
and technical buy/sell advice and all the latest information from more
than 100 top national and international contributors from major stock and
commodity firms, independent advisory services and government agencies.
A typical issue contains 225+ articles and
120+ charts, graphs and tables. CONSENSUS covers all stock, financial,
currencies, metals and petroleum, grains and oilseeds, food and fibers
markets and more!
Please check the list of our contributors
for your favorite writers. Contact information is available in our Directory
Each issue includes the CONSENSUS
Bullish Sentiment Index Of Market Opinion, the CONSENSUS
Report of Commitments of Traders, Daily Price
Charts, and economic reports from U.S. Department of Agriculture,
Commerce, Labor and others.
We welcome market letters, special reports,
articles, statistics and research studies for possible publication, from
brokers, analysts and individuals. All material will be carefully considered
(though we cannot assume responsibility therefor). Call 816-373-3700 or
800-383-1441. Material should be sent to CONSENSUS, Inc., P.O. Box 520526,
Independence, Missouri 64052-0526.
West Jackson Blvd
Chicago, Illinois 60604
312 264 4364 (Direct)
| 888 264
5655 (Direct) |
312 264 4399 (Fax)
800 769 7021 (Main)
Prepared by Phil Flynn
(October 24, 2014)
Short term and long term demand fears sink oil making the charts look a little sick. Oil tried to rally only to fail in the face of weakling demand expectations and reports of Ebola in New York City. The market seemed to rally after a misinterpreted report on Saudi oil production. While the report suggested that Saudi exports had slowed, production actually went up. The Saudis actually supplied 9.36 million barrels of oil which was 328,000 lower than the previous month. Yet production actually went up by 100,000 barrels. The reduction in exports was really a bearish sign as the demand for Saudi oil is obviously faltering. Some of that can be directly related to refinery maintenance planned and unplanned but also due to a shaky economic outlook.
Oil also had to ponder a hit to longer term demand expectations as EU leaders in Brussels to cut greenhouse gas emissions by 40% by 2030, compared with 1990 levels with 27% of that to come from renewable fuels. As the world tries to wean itself off of oil, producers will try to maneuver to maintain market share. This is another reason that OPEC led by Saudi Arabia is trying to crash the oil market in an attempt to put off any new shale projects that are the biggest threat to their long term economic health. OPEC is also feeling the heat from Russian production that hit 10.61 million barrels a day a post-Soviet era high last month.
The natural gas injection number fell short of expectations but still had an above average injection. The Energy Information Administration showed that working gas in storage was up 94bcf to 3,393 Bcf . Warm weather forecasts in the Midwest are hoping the next week the can build more inventory where stocks are still 9% below the five year average. Still this is the season when you should be looking at calls going into winter. Longer term the Wall Street Journal points out that “Next year will see a swath of coal-fired power plants shut down as a result of tighter environmental standards. Some 30 gigawatts of coal-fired capacity is slated to be retired or at risk of this in 2015, according to Sanford C. Bernstein. That is 60% of the amount expected to close through 2020, still this year with the record production and cool summer it may take a polar vortex to get a spike.
Friday Commodity wrap. Beans and the grain markets have come back from the dead. Late harvest a scattered report of yield that has not quite lived up to billing is giving the complex a boost. Dry weather in Brazil helped soybeans have led the grain comeback as exports stayed strong in the face of a rising dollar yet we are seeing strength in corn as well. Oats are also on a tear as fears that a cold winter may restrict rail space to move oats in a couple of months.
Beans are so hot that someone may be selling hot beans. It was reported someone stole about $18,000 worth of beans from a farm in Illinois that was owned by an Iowa farmer.
Cattle prices rallied ahead of what could be a make or break cattle on feed report today which is expected to show that September placements were slightly larger than last year.
October 24, 2014
Free Trial! Free
Ag Financial Strategies
Ag Watch Market Advisors
Asset Management Research Corp.
Back Bay Futures
Bank of Toyko-Mitsubishi UFJ
BGC Partners, Inc.
BMO Financial Group
Bordier & CIE
Capital Commodity Investments Inc.
Commodity & Derivative Advisors, LLC
Commodity Futures Forecast
Conference Board (The)
Diapason Commodities Management
DNB Bank ASA
Dohmen Capital Research Inc.
EFG Group, LLC
Euro Pacific Capital, Inc.
Euro Pacific Precious Metals LLC
Federal Reserve Banks
Federal Reserve Board
Friedberg Mercantile Group, Ltd.
Gann Global Financial
Halco Trading Strategies
Hoisington Investment Mgmt. Co.
Informa Global Markets
INSIIDE Track Trading
Institute for Supply Mgmt.
Ira Epstein Division of The Linn Group, Inc.
Jim Wyckoff On The Markets
Liberty Trading Group
MCTS Trading Corp.
Michigan State University
Musings From The Oil Patch
Navigator Money Mgmt., Inc.
New Traders Of America
Northern Trust Co., The
Pacific Investment Mgmt.
Pento Portfolio Strategies
Peter Eliades' Stockmarket Cycles
Price Futures Group
Pring Turner Capital Group
Random Walk S.L.
Raymond James Financial, Inc.
RCM Asset Management
Redbook Research, Inc.
Riverfront Investment Group
Rockwell Global Capital
Schaeffer's Investment Research
Sovereign Asset Mgmt.
Todd Market Forecast
U.S. Dept. of Agriculture
U.S. Dept. of Commerce
U.S. Dept. of Energy
U.S. Dept. of Labor
University of Illinois
University of Missouri-Columbia
University of Tennessee
Walsh Trading, Inc.
Wells Capital Management
Windy City Trader (The)
World Gold Council