Just like I thought, most of the commodity grain futures moved down this week, or with very little gain, with the exception of wheat futures.

I did state that I wasn’t too sure about wheat because although wheat has been in a downtrend, the indicators were on the high side, and wheat did move up more. It looks like wheat futures could go up some more but they should be hitting some resistance soon, so I would be careful.

Corn futures appeared to be moving down after closing the gap, but jumped up some on Friday. Although I think there will be some more movement down in corn soon, keep your stops in place in case corn starts moving up first. Especially if corn closes above resistance.
Oat futures have hit a little resistance but I don’t think it will hold, just keep your stops in place

Soybean futures may have broken resistance but just barely. I am betting on a drop, but watch it close and keep your stops in case they start moving up.

Rough rice futures started moving down again like I thought and closed down as much as .300¢ on Thursday. Rice jumped back up on Friday. Rice may have just been trying to close the gap, but I would watch it and keep my stops in place.

Since the options on May grain commodity futures contracts expire at the end of this coming week, next weekend I will be following the July grain commodity futures contracts.

May wheat futures closed the week at 478.4, up 33.4¢ for the week.

May corn futures closed the week at 369.0, up 3¢ for the week.

May oat futures closed the week at 271.0, down 5.4¢ for the week.

May soybean futures closed the week at 738.0, down 22.4¢ for the week.

May Rough rice futures closed the week at 10.120, down .130¢ for the week.

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Grain Commodity Futures Trading, Grain Commodity Futures Market Predictions