Grain Commodity Futures Friday Update
The holidays had me tied up and I missed last weeks post, sorry about that. I have some projects that will last me through the holidays so my posts may be delayed at times for a while. I hope to get back on track soon though.
Chicago wheat futures have made a good bounce up like I predicted, keep with it just keep your stops placed.
Corn futures are still going sideways. I expect corn to drop, but watch it close.
Oat futures broke down and are at support again. The indicators appear to be up but I would watch oats for a while.
Soybean futures are still up but may make a correction soon. If you are long please keep your stops placed.
Rough rice futures did move up a little like I expected but appear to be making the move down now. Keep your stops in place.
It is early Friday and the market is still open so I can’t post closing prices today. I should be able to next week.
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Grain Commodity Futures Trading, Grain Commodity Futures Market Predictions
Do you know why March and May 08 Wheat contracts trade at 960 and July trades at 770?
Further out contracts usually trade higher because of additional charges but when a commodity is in great demand, a near term contract can trade at a higher price than the latter and is called a “premium market”. This is usually a bullish sign.