Coffee Futures in the December contract is trading lower for the 5th consecutive trading session right near a 5 year low as prices hit a fresh contract low in yesterday's trade at 107.45 while currently trading at 109.05 as this market still remains bearish in my opinion.
Soybean futures in the November contract are trading lower for the 3rd consecutive session down another 8 cents currently trading at 8.53 a bushel after selling off more than $0.40 last Friday off of the crop report which showed that we will produce a record crop in 2018 around 4.586 billion bushels as excellent growing conditions in the Midwestern part of the United States will produce around 51.6 bushels per acr
Silver futures in the September contract settled last Friday in New York at 15.46 an ounce while currently trading at 15.40 down slightly for the trading week still stuck in a tight 4 week consolidation.
Futures were lower in both markets on speculative selling. There was no news to support any bullish ideas, so the funds and other speculators appeared to use the recent small rally to add to short positions Commercials remain scale down buyers.
The S&P 500 in the September contract is up 12 points this Tuesday afternoon in Chicago reversing some of the losses that we witnessed over the last 2 trading sessions currently at 2816 as I've been recommending a bullish position from the 2803 level & if you took the trade the stop loss remains at 2792 as the chart structure is outstanding at the present time.