This will be a short post since I just got back from a trip. That’s why I’m late on my post this weekend. Hopefully your ultimate goal is to learn how to trade the commodity markets yourself. So you can trade in between my posts.

Chicago Wheat futures started to made a good drop last week like I expected, but hit some support. I think wheat could continue down but the volatility could pick up so be careful and plan ahead.

Corn futures have kept going down. I expected a little support while some took profits, but it hasn’t happened yet. Corn now has quite a way to fall before reaching more support, but I would keep a close stop in case of profit taking.

Oat Futures moved down slightly but appear to have stalled. The indicators are low but oats could make a good rebound before making another drop. If you go long on oats, I would keep your stops placed as always.

Soybean futures shot up for some reason. I expected there could be some kind of a rebound, which is why I was suggesting taking profits or keeping a close stop, but this amazed me. Maybe it was a lot of covering before a big drop? Having a stop on a contract wouldn’t have kept you from loosing quite a bit on this move, but having an opposing option would have covered a lot of the loss. The only thing with buying an opposing option is that if the move goes your way, you have to cover what you are losing on your option before making a profit. You have a lot fewer loosing trades, but you lower your average return. I will have a few traders tips on my website which is coming up real soon. Make sure you read them!

If you were long soybeans, congratulations! If you got out when soybeans stalled, it may be time to short again, but you may want to wait until the volatility settles to see which direction beans will take. Although on this move they didn’t break through resistance, so let’s see what happens next week. If you were short beans and got stopped out the same goes. If you had a put option on beans, I would hold on to it until you see if they break through resistance or not.

Rough rice futures moved down a little but appear ready for a bounce up. Just keep your stops in place.

September Chicago Wheat closed Friday at 597.0, down 8¢ for the week.
September corn closed Friday at 340.0, down 36.6¢ for the week.
September Oats closed Friday at 262.0, down 6.2¢ for the week.
August soybeans closed Friday at 855.6, up 51.2¢ for the week.
September rough rice closed Friday at 10.675,9I didn’t have last week’s price.)

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Grain Commodity Futures Trading, Grain Commodity Futures Market Predictions