Commodity Grain Futures Friday Update

Chicago wheat futures are still stalling in a sideways pattern. This could be a top for wheat, just use caution and good judgment. Don’t base a trade on emotional reasons.

Corn futures seem to have broken out to the upside just as I have predicted in my last couple of posts. There could be some corrections on the way up, so don’t set stops too close, but keep them set.

Oat futures made a correction and moved back up to resistance. Watch them close and see if they break through or not.

Soybean futures moved up some more, they could be ready for correction so be careful. We’ll have to wait and see.

Rough rice futures broke through resistance and started the uptrend again. This could be a good move up but keep your stops placed.

December Chicago wheat closed today at 874.0, up 28¢ for the week.
December corn closed today at 376.4, up 27¢ for the week.
December oats closed today at 283.2, up 2.6¢ for the week.
November soybeans closed today at 979.0, up 24.4¢ for the week.
November rough rice closed today at 11.520, up .340¢ for the week.
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