Grain Commodity Futures Update

The grains have been moving different from each other this week. That may be a good sign.

Chicago wheat futures dropped down a little more than I thought they would before starting back up, but it did start back up. I would expect it to go up some more but keep an eye on support and resistance and keep your stops placed.

Corn futures closed the gap and then stalled. I still think corn could make a drop. Just keep your stops placed.

Oat futures moved up a little above resistance, but it looks like they may have run out of steam. Oats should be getting ready for a drop soon.

Soybeans broke resistance, which should be a sign of a continued move up, but if you go with it, cover the downside because indicators are on the downside.

Septemeber Chicago wheat futures closed Friday at 887.4, down 24.6¢ for the week.

September corn futures closed Friday at 757.6, down 10¢ for the week.

December oat futures closed Friday at 486.0, up 21.8¢ for the week.

August soybean futures closed Friday at 1649.0, up 70¢ for the week.

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