I’ve been tied up with several projects lately and haven’t posted lately, sorry! But there hasn’t been much to report on lately since the last time when I said the grains had quite a way to fall, and fall they have!

Hopefully a lot of people made some money on the way down, but in general, I would be looking to cover any shorts or put options soon or keep close stops on them. The markets have been in a downfall but the indicators have climbed high and we could be looking at a change in direction soon.

Chicago wheat futures are bouncing off resistance right now and look good for a move up.

Corn futures look like they may move down a little more but the indicators are high so I woundn’t put a lot of faith in a continued downtrend.

Oat futures have gone straight down amazingly, but I think they will hit some resistance soon.

Soybean futures look like they should follow wheat with a move up soon.

They grains have been in a strong trend obviously so be careful. That’s whyit can help to buy opposing options with trades you aren’t so certain about.

December Chicago wheat futures closed Friday at 499.0¢

December Corn Futures closed Friday at 338.4¢

December Oat futures closed Friday at 200.6¢

January Soybean futures closed Friday at 840.0¢

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Grain Commodity Futures Trading, Grain Commodity Futures Market Predictions