Wednesday Update
The grains seem to have started back down today, I am still bearish, but I would be cautious. Corn has me a little worried so I would watch it and see if it starts to move down, which would be a good sign.
Wheat did jump up off support last week like I thought, but wheat and soybeans seem to be starting back down, but if they only come down a little and try to move up on support, we may see them go higher.
I was reading the indicators right on the money when I said they were pointing to a rise in oats. I’ve said that oats are a little harder to read, but if they start down I think they could come down too. Just watch for a drop first.
Rough rice gapped up today which may be a sign it will move higher. I want to watch it first.
March Chicago wheat closed today at 507.0
March corn closed today at 386.6
March oats closed today at 276.2
January soybeans closed today at 669.4
January rough rice closed today at 10.175
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