Chicago wheat futures seemed to stall some and jumped right back up this week. As I said, the uptrend has been strong even though the indicators have been low. We can get a good prediction of where the markets are going, but as a trader we need to realize that every one of our predictions won’t be right, so we need to adjust our trade when we find out we made a mistake and go with the market.

It does take a little practice to swallow your pride but that’s the way the market is and following the rules is how you make money. Not by listening to your emotions. This is a business, not an ego builder.
The trend in wheat has been strong and gone against my main indicators, but more indicators are pointing toward a drop soon, and I am expecting one soon. The volatility is high as I have warned, so wheat could gap down when it does drop so be careful if you are long. You could buy opposing options just in case it does.

Corn futures made a little jump last week and then came back down and hit support this week. I said the trend could be somewhat sideways and it appears to be doing that. The indicators are up but corn seems to be waiting to see which way it wants to go. I think it will be up when it does but it may sit for a while.

Oat futures started up a little on Monday this week and came back down to hit support. The indicators are pretty high for a move up in oats soon. I am more sure about a near term move in oats than I am about corn right now.

Soybeans continued the correction a little this week but appear to have hit some resistance and appear to be ready for a drop. I am not sure if it will be a big drop because the grains seem to be stuck in a sideways trend right now like they are kind of uneasy. Soybeans could drop down to support and make a sideways trend too.

Rough Rice appears to have broke out to the upside of the sideways trend it was making, just like I said last week. I would expect a run up in rice, just keep your stops placed.

If you are unsure about a trade, you don’t have to take it. You don’t have to be in the market all of the time. And like always, keep your stops placed.

Don’t forget to download the free report I wrote for all of you. It is an uncomplicated trading method using minimal time to find and manage your trades. It contains info on how to spot a major move in the making, when and how to enter a trade, where to place stops and when to take profits.

The “Lock In Profits” method doesn’t require you to predict the markets, it is more of a “set and forget” method. I am still working on my program that will teach you my exact method on how to predict the grain markets. I will let you know when it’s ready.

If you download the free report, I can also send you some extra trading tips, some options trading techniques and some resources I have found helpful. You will also be first in line when I do get my market prediction program ready. Just click the link or the button to the right. If you have any questions, you can use the “contact us” page on TheGrainTrader website.

December Chicago wheat closed today at 775.4, up 49.8¢ for the week.
December corn closed today at 340.0, down 1.4¢ for the week.
December Oats closed today at 254.6, up 7.6¢ for the week.
November soybeans closed today at 882.4, up 33.0¢ for the week.
November rough rice closed today at 11.130, up .520¢ for the week.
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Grain Commodity Futures Trading, Grain Commodity Futures Market Predictions