The grain markets have moved up well just like I expected. They seem to have hit some resistance and retrace some so keep your stops placed.

Chicago wheat futures went straight up last week and hit a new high on Friday but closed lower than Thursday’s close. Wheat is trading around resistance so keep a close stop.

Corn futures have gone up for the last 5 weeks and may be hitting some resistance so keep your stops placed.

Oat futures were making good gains for the week but lost it all on Friday with a big drop. Hopefully Oats will find support in this area and continue moving up. Keep your stops placed.

Soybean futures moved up a little last week but may be hitting some strong resistance. If soybeans move higher it should be a good sign, if they don’t, they could move back down. Keep your stops placed.

Rough rice futures are still uncertain right now. Rice could move down some. The main thing to watch for is for rice to break either support, or move up and break resistance.

December Chicago wheat futures closed Friday at 547.6, up 49.0¢ from last Friday.

December corn futures closed Friday at 397.6, up 25.6¢ from last Friday.

December oat futures closed Friday at 250.2, down 1.2¢ from last Friday.

November soybean futures closed Friday at 1006.0, up 28.6¢ from last Friday.

November rough rice futures closed Friday at 13.430, down .225¢ from last Friday.

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Grain Commodity Futures Trading, Grain Commodity Futures Market Predictions