Grain Commodity Futures Weekend Update
There’s not much of a change in the grain markets since Wednesday. All the grains started a correction around the same time.
Chicago wheat futures look like they could continue up because the indicators are still high, but I would keep your stops placed. Wheat is trading around resistance.
Corn futures have stalled. The indicators are low and it looks like corn could make a good correction, but it has been in a good rally, so be careful.
Oat futures should at least drop down to support. I don’t know if oats will drop further than that yet, we’ll have to wait and see.
Soybean futures appear to have hit a top. I think a put option would be good. The indicators are low, but of course the grains have been in a strong trend so keep your stops placed.
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September Chicago wheat futures closed Friday at 884.2
September corn futures closed Friday at 735.4
December oat futures closed Friday at 445.2
August soybean futures closed Friday at 1535.0
grains,tradingcommoditiesfuturesinvestingfinance
grains,trading,commodities,futures,investing,finance
Grain Commodity Futures Trading, Grain Commodity Futures Market Predictions
[...] The Grain Trader Update Blog wrote an interesting post today onHere’s a quick excerptGrain Commodity Futures Weekend Update June 21st, 2008 There’s not much of a change in the grain markets since Wednesday. All the grains started a correction around the same time. Chicago wheat futures look like they could continue up because the indicators are still high, but I would keep your stops placed. Wheat is trading around resistance. Corn futures have stalled. The indicators are low and it looks like corn could make a good correction, but it has been in a good rally, so be car [...]