I took last week off and didn’t post because I was so busy and working on top of a bad case of the flu. I still am not over it, but I am better. Obviously the grain markets made a quick drop to the next support level during that week and they seem to be holding there. Actually the grains bounced up a little during the middle of the week, and then settled back down.

I think this support should hold. The indicators look good and the support levels are strong and we should see some upward movement beginning. Aggressive investors could buy calls and more prudent investors could wait for some validation before jumping on board. But anyway you go, please keep your stops close because if the support fails, we could see a pretty big drop in the grains.

Chicago wheat futures did bounce up a little in the middle of the week and settled back down. The indicators are looking good for a move up. Keep your stops close.

Corn futures did the same and the indicators for corn look good too.

Oat futures are looking even better. They didn’t settle back down and the indicators are looking good for a move up. We may be looking at a good opportunity with oats.

Soybeans made the biggest drop in the previous week. It’s not surprising since they have been the most volatile of the grains. Soybeans did hold steady his week and the indicators are looking good.

Rough Rice futures held last week. Rice doesn’t appear to have as strong of support as the other grains, but maybe they will follow suit if the other grains move up.

Always place your stops.

May Chicago wheat futures closed Friday at 521.4

May corn futures closed Friday at 359.0

May oat futures closed Friday at 194.0

May soybean futures closed Friday at 8.720

May rough rice futures closed Friday at 12.810

grains,trading,commodities,futures,investing,finance
Grain Commodity Futures Trading, Grain Commodity Futures Market Predictions

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