I’ve been tied up and pretty busy and the markets have been moving pretty much as I anticipated, so I laid off a couple of posts, sorry ’bout that.

Soybean futures are my main focus right now. They have made a good run, but I think they have run out of steam. The other grains are near support, but you probably want to be cautious and not enter any new trades on them right now so you can see what happens.

Chicago wheat futures have dropped and the indicators are starting to move up. If you are short wheat, I would hold on until it reaches support and keep a close stop because it looks like it could go a little lower, but I wouldn’t enter any short positions right now because there may be a rebound soon.

Corn futures are acting about the same. There may be a rebound soon but I would wait to see what happens before entering any new trades.

Oat futures are hard to call right now too so I would hold off on any new positions.

Soybean futures appear to have run out of steam. The indicators are showing a drop. They have started to drop and I think they will still drop more. Always keep your stops placed.

Rough rice futures have been trading sideways for quite a while. Like I said last time, I think the break will be up, but I don’t know when. We’ll just have to watch it for a while.

July Chicago wheat futures closed last Friday at 555.2¢

July corn futures closed last Friday at 399.2¢

July oat futures closed last Friday at 212.0¢

July soybean futures closed last Friday at 1179.0¢

July rough rice futures closed last Friday at 12.390¢

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Grain Commodity Futures Trading, Grain Commodity Futures Market Predictions