The grain markets were up strong last week after making a short correction in the previous week like I was anticipating. There will be some corrections on the way up so watch how you play it and keep your stops placed but the market looks good overall like I have been saying.

Chicago wheat made the biggest correction before moving back up last week. It looks like there could be some volatility with wheat so keep your stops placed.

Corn has some resistance to overcome so keep your stops placed.

Oats still look strong, just keep your stops placed.

Soybeans have done well and have actually moved up around 123¢ since I recommended buying calls around 5 weeks ago. Soybeans are nearing some resistance too so keep your stops placed.

Rice seems stuck in a sideways trend right now. The indicators appear to lean toward a breakout to the upside, but there’s not a strong indication of when, so we’ll have to watch it close.

May Chicago wheat futures closed Friday at 563.4, up 56.2¢ for the week.

May Corn futures closed Friday at 404.4, up 17.4¢ for the week.

May Oat futures closed Friday at 199.0, up 3.6¢ for the week.

May Soybean futures closed Friday at 995.4, up 78.4¢ for the week.

May Rice futures closed Friday at 12.780, up .405¢ for the week.

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Grain Commodity Futures Trading, Grain Commodity Futures Market Predictions