Weekend Update

I wanted to do an update yesterday , for Thursday, but I was pretty busy. I saw Wheat bouncing off support and it moved up today just like I thought. I expect wheat to move up more. It would be good for a buy for now.
I can’t see corn going any higher. I think this was a last ditch effort for a rally, but I don’t think it will go. I expect it to drop.

Soybeans are a little more sure. I see a drop coming now. Soybeans have been scooting up, but I think aggressive investors should short now. Prudent (Safe) investors, could probably wait for a sure sign.

Oats appear ready for a bounce up, but the trend could still be down.

Rough rice did make another move down, like I said, but I would be careful of a rebound now. I am not sure if rice will continue the trend up yet, or start a down trend. I have a feeling it will start a downtrend, but it may take a while to develop. I will let you know when I know.

As always, keep your stops, or buy an opposing option.

March Chicago wheat closed the week at 468.0, up 7.8Â¢ for the week.
March corn closed the week at 417.0, up 10.8Â¢ for the week.

March oats closed the week at 242.4, down 8.0Â¢ for the week.

March soybeans closed the week at 767.0, up 17.8Â¢ for the week.

March rough rice closed the week at 9.960, down .220Â¢ for the week.

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