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Commodity News Reports
To successfully trade commodities, traders learn the basics of commodity trading with classes like Commodity and Futures Training. As part of a successful trading strategy for commodities, traders follow commodity news reports. There are many places to find commodity news reports. These include print media such as the Wall Street Journal, the online business news media such as Bloomberg, Yahoo Finance, Google News, and the like, and propriety news media affiliated with commodity dealers and commodity brokers. Much of what comprises news about commodities comes from following trading on the NYMEX or official reports such as the US Department of Agriculture Daily National Grain Market Summary. Commodity news reports ideally contain hard data first of all and reasoned analysis second. The hard data of commodity news reports can be used for fundamental analysis of the commodity in question. Opinions of commodities analysts may be useful in directing the trader where to focus his or her technical analysis of commodities markets.
The type of information in commodity news reports typically has to do with issues of commodity supply and demand. Useful analysis will be that which gives insight into supply and demand issues. For example, a drought in Europe and Asia is drastically reducing wheat production and driving up prices worldwide. The fact that the drought is continuing towards the fall tells us that the winter wheat crop to be planted this fall will also be affected. Thus, even if there is snow this winter in the Russian Steppes and good spring rains the wheat crop will still be poor next year. The next set of facts a trader will want to see is reports of how much wheat is planted in the Dakotas, Nebraska, Kansas, Manitoba, and so forth, this coming fall. Fundamental commodity analysis starts with commodity news reports.
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