It’s been a rather mundane week in the grains this week. This is a good opportunity to let the indicators settle and hopefully give us a stronger signal before the markets move. Taking trades on only the strongest signals gives us a lot higher percentage of winning trades.

Chicago wheat futures have been trading tightly sideways on support and the indicators are moving up as an indication that wheat may soon rebound up soon.

Corn futures also traded in a tight sideways trend this week. The indicators are suggesting a continuation of the downward move toward support.

Oat futures traded sideways until Friday, when they dropped a little. The range was wide but the close seems to be holding against support. The indicators appear to be moving up again and oats should make another move up.

Soybean futures jumped up on Tuesday and Wednesday and stalled on Thursday and Friday. The indicators are moving low and could be signaling a drop soon but the trend up has been strong so if you are currently long, I would stay with it and keep a close stop or buy opposing options. I wouldn’t enter any new long positions unless you are very aggressive. I would prepare to enter a short position on a strong signal of a reversal.

Rough rice futures trended up some this week but I think it was like a last ditch effort. It could move up slightly but if I was long on rice, I would take profits and an aggressive but likely a profitable move would be to buy a put option or short a contract on a stop with a move down.

Just remember that sometimes sitting on the sidelines can be your most profitable move.

Always keep your stops placed.

December Chicago wheat futures closed today at 749.4, down 12.6¢ from last Friday.

December corn futures closed today at 379.4, down 7.2¢ from last Friday.

December oat futures closed today at 280.0, down 9.4¢ from last Friday.

January soybean futures closed today at 1077.6, up 21.6¢ from last Friday.

January rough rice futures closed today at 12.970, up .200¢ from last Friday.

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Grain Commodity Futures Trading, Grain Commodity Futures Market Predictions