May Chicago wheat moved down a little but is still around the support level. Indicators are showing it could make a bounce up, but I would be careful. Wheat has been in a downtrend. I don’t have a definite call on a directional trade for wheat right now. Wheat is making larger average moves than it used to.
May corn moved down like I said, and I am expecting more of a drop, but it is around some support, so I would be careful and keep a close stop.

May oats opened up a little higher on Monday, and moved up a little more for the week. I believe it was a good chance to take a short position, but always keep your stops in place.

Soybeans moved back down to support, and I believe they will resume the downtrend. Just keep your stops in place.

I thought there could be some volatility with May rough rice and there has been. It moved down again on Thursday, and up some on Friday. It could move up a little before moving down again. I think it will move down again soon.

Always keep your stops in place.

May Chicago wheat closed at 460.6, down 2.6¢ from Wednesday and down 15.8¢ for the week.
May corn closed at 399.4, down 5.2¢ from Wednesday and down 18¢ for the week.
May oats closed at 274.4, up 10¢ from Wednesday and up 11.4¢ for the week.

May soybeans closed at 753.4, the same as Wednesday, and down 6.2¢ for the week.

May rough rice closed at 10.330, up .015 from Wednesday.

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