
January 31, 2012 - Issue 440	Unsubscribe \| View In Browser

	Energies: Crude Oil
	Travis Rodock - Senior Market Specialist
Crude oil futures ended Tuesday in negative territory as weak economic data and crude inventory expectations applied pressure. Oil futures began Tuesday's session on solid ground before succumbing to weakness after a round of worse-than-expected US economic reports. The weaker than anticipated data managed to spark a round of selling as investors dumped risk assets in exchange for safe haven bets to help safeguard against a possible slowing in the US economic recovery. In addition, inventory estimates pointing towards a build in already high crude inventories were cited as providing extra pressure to the oil market. Currently, crude oil futures look like they are going to continue trading in a range with the hostility between Iran and the west providing support and fears that Euro zone troubles could lead to a reduction in global oil demand acting as resistance. March light, sweet crude futures settled $0.30 lower at $98.48 on the NYMEX.

	Energies: Stock Estimates - Week Ending January 27th
	Travis Rodock - Senior Market Specialist
Crude Oil: +3.0 mil bbl Unleaded Gas: +0.2 mil bbl Distillate: -1.3 mil bbl

Grains: Corn, Soybeans, & Wheat

Brain Wagner - Senior Market Specialist

First Capitol Ag, our hedge division is hosting a Grain Marketing Conference.

Corn
Corn futures closed higher on rising wheat prices and worries about South America production. Argentina crop estimates continue to slide as analysts estimate damage from this year's drought, which is expected to mean tighter world supplies and more US-export demand. Meanwhile, a rally in wheat on short-covering and fears about Black Sea production gives the market supportive news. Firm cash market also supporting futures.

Soybeans
Soybean futures ended higher rebounding from Monday's sharp declines. The advances were driven by traders consolidating trading positions with ideas that yesterday was overdone. End-of-month position-evening was featured as the absence of any extreme tightness of supplies and improved crop potential due to beneficial rains in Argentina left the market without any fundamental news to support higher prices.

Wheat
Wheat futures rallied on worries about crops in the former Soviet Union and short-covering. A cold snap in the Black Sea region is driving worries about winterkill there, although the extent of the damage won't be known for weeks. Traders also note spec funds are holding a huge net short position, leaving the market vulnerable to an added short-covering boost when prices begin to climb. Traders also mention month-end fund buying.

	Metals: Gold
	Travis Rodock - Senior Market Specialist
Gold futures finished Tuesday's session in positive territory, but well off of highs, as Euro zone concerns and soft US economic data provided support. Gold futures began Tuesday's session on firm footing as early dollar weakness and outside market strength pushed the yellow metal to its highest level since December 8th. However, a round of weak US economic data quickly sapped the metal of its early strength as both US consumer confidence and the Chicago purchasing managers index missed analyst expectations. This sparked a round of selling across risk assets as investors moved cash back into safe haven assets as worries that the US economic recovery could be slowing crept into the markets. On the other hand, gold prices did receive some measure of support late in the session as European leaders announced that they are at the last step of securing a Greek debt swap deal. Greek officials said that they expected a deal to be finalized by the end of the week. April Comex gold futures settled $6.00 higher at $1740.40 per ounce on the NYMEX.

eNews: Futures IRA

Roni Kauffman - Client Services Manager

In cooperation with Millennium Trust Company, efutures.com supports futures IRA accounts. Millennium Trust acts as trustee and custodian for self-directed IRAs.

If you would like to open a futures IRA account or have any questions, please call us at 800-854-8738 and ask for Roni.

Both the efutures.com and Millennium Trust account applications must be completed and mailed to Millennium at the following address:

Millennium Trust Company, LLC
820 Jorie Blvd, Suite 420
Oak Brook, IL 60523

Account Forms

The required forms can be downloaded in PDF format from these pages:

- efutures.com Account Forms
- Millennium Forms

Please call us at 800-854-8738 if you have any questions.

Financials: S&P & Dow Wrap Up Best January in 21st Century

Roni Kauffman - Client Services Manager

NEW YORK (CNNMoney) -- January offered up an apology to discouraged investors.

Unlike 2011, when markets spiked and sunk several hundred points each day but ultimately closed out the year relatively flat, all three indexes mostly climbed higher throughout the month with occasional dips.

The Nasdaq climbed 8% in January and the S&P 500 and Dow each added 3.4% and 4.4%.

Absent, so far in 2012, are the heart wrenching daily drops and pops in stocks.

Even with a choppy trading day Tuesday, it was the best January for the S&P and Dow since 1997 and since 2001 for the Nasdaq.

U.S. stocks traded in a narrow range Tuesday, after worse-than-expected U.S. housing and manufacturing data tempered the modest enthusiasm over Europe's progress on a new fiscal pact.

The Dow Jones industrial average (INDU) slid 21 points, or 0.2%.The S&P 500 (SPX) shed 0.6 points, or 0.1%. The Nasdaq added 2 points, or or 0.1%.

World markets: European stocks closed posting solid gains. Britain's FTSE 100 (UKX) added 0.8%, the DAX (DAX) in Germany gained 1.1% and France's CAC 40 (CAC40) climbed 1.5%.

Meanwhile, Asian markets ended modestly higher. The Shanghai Composite (SHCOMP) ticked up 0.3%, the Hang Seng (HSI) in Hong Kong added 1.1% and Japan's Nikkei (N225) rose 0.1%.

Economy: The Case-Shiller 20-city home price index showed home prices dropped 1.3% month-over-month in November.

Later in the day, the January edition of the Conference Board's Consumer Confidence Index is set for release, as is the Congressional Budget Office's 10-year budget and economic outlook.

The Consumer Confidence Index is expected to hit 67 in January, up from 64.5 in the month prior, according to a survey of analysts by Briefing.com.

Currencies and commodities: The dollar fell against the euro and the British pound, but gained versus the Japanese yen.

Oil for March delivery dropped 37 cents to $98.39 a barrel.

Gold futures for April delivery rose $7.40 to $1,740.40 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury moved higher, pushing the yield down to 1.80% from 1.84% late Monday.

	Margins & Expirations
	Sean Voigts - Customer Service & Marketing
First Notice Day: Feb 02 - Feb - NY Heating Oil & RBOB Feb 06 - Feb - Live Cattle Last Trading Day: Feb 02 - Jan - Butter/Milk Last Trading Day Options: Feb 01 - Mar - LDN Wht Sugar Feb 02 - Jan - Butter/Milk Feb 03 - Feb - Austral 90-Day Bills/ US & Canadian Dollars/ Currencies/ Live Cattle/ ICE Gas Oil/ Mexican Peso - Mar - ICE Cocoa

efutures.com uses sources that they believe to be reliable, but they cannot warrant that accuracy of any of the data included in this report. Past results are not necessarily indicative of future results. Because the risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.

Energies: Crude Oil

Energies: Stock Estimates - Week Ending January 27th

Grains: Corn, Soybeans, & Wheat

Metals: Gold

eNews: Futures IRA

Financials: S&P & Dow Wrap Up Best January in 21st Century

Margins & Expirations