Chicago wheat futures did just what I thought they would, and dropped back down to support. The indicators are a little unsure so be careful. Indicators are up, and support seems pretty strong so it will probably hold, but prices are high and indicators are moving down a little, so if support fails we could see lower prices.

Corn futures stalled at resistance and moved down slightly. Corn prices are high, but the indicators are showing a potential for another upward rally soon. Keep an eye out and keep your stops placed.

Oat futures decided to make a quick drop this week, that’s why we keep our stops placed. Unless you had an option, which you may want to hold on to because indicators are showing that oats should rally soon.

Soybean futures traded sideways this week, and could drop back to support, but indicators are moving up. It looks like we could see a rally in soybeans pretty soon.

Over all, the grain markets are mainly moving in a choppy sideways fasion right now, so don’t take too many chances. Sometimes sitting on the sidelines is your best move. You can always jump back in when the indicators get a little more clear.

Always remember to keep your stops placed. If you have a minute, please fill out my traders survey. Thanks! Click Here to take survey

December Chicago wheat futures closed Friday at 801.2

December corn futures closed Friday at 585.0

December oat futures closed Friday at 362.2

November Soybean futures closed Friday at 1324.0

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Grain Commodity Futures Trading, Grain Commodity Futures Market Predictions