Grain Commodity Futures Wednesday Update

The grain commodity futures seem to have followed my predictions from last week. Things are a little unsure right now so if you are a somewhat prudent investor, you should probably take profits if you haven’t already. you can re-enter if things continue in the same direction. I will try to make an accurate call about the direction of the market pretty soon, I am just afraid of the volatility that seems to be coming up. Just remember, you don’t have to be in the market all the time. Another trade will come along soon and it is probably better to make a little, than lose a lot. Of course I hope you made more than just “a little” this last week.

I will give my predictions for the grain market, but things aren’t too clear right now, so just remember you are taking an aggressive action if you enter the market right now. I think the best way to do that is with options, so you can’t lose more than you invest. If you have to trade with a contract, I would buy an opposing option as a hedge.

Wheat futures made a scary jump up but didn’t break resistance and the price action made me think it would probably drop back down. I am holding on to a drop in wheat futures soon, but I am not sure when. Wheat could trade sideways for a while. I would be careful if wheat seems to break above resistance.

Corn futures may have hit some support and with the indicators moving up, corn could make a good move up.

Oat futures are hard to predict right now. Oats could move up some more, or they could trade sideways for a while.

Soybean futures appear to have hit some resistance and could rebound some.

Rough rice futures have traded somewhat sideways but indicators are moving up, so I would be careful of a jump up.

As always, keep your stops in place.

September Chicago wheat futures closed today at 634.0, up 17.8Â¢ from Friday.
September corn futures closed today at 311.4, down 6.8Â¢ from Friday.
September Oat futures closed today at 251.0, up 11Â¢ from Friday.
August soybeans closed today at 815.0, down 35.2Â¢ from Friday.
September rough rice closed today at 10.990, up .550Â¢ from Friday.

grain, trading, commodities, futures, investing, markets