Commodity trading can be volatile at times, that’s why we need to keep our stops placed. I made an incorrect call on oats last week, but that happens. I have also stated in my other posts that oats are harder to read. My other calls seem to be working out pretty good though. Hopefully, if you shorted a position on the oats futures, you got out shortly after oats started moving up.
Actually I tried using an “indicator” that I had learned from someone who trades commodities a lot, and I have faith in. It may have just been an early call and the downtrend may still happen. This move up may be kind of a shake-out before it drops, but by having total faith in only one indicator, I missed a good indication that oats could move up to resistance like they did.

Oat futures seem to have hit some resistance and appear ready for a drop now. A big drop? I can’t say for sure yet, we’ll have to wait and see. I think they will drop though. I would keep a close stop though if they seem to move above resistance.
I am letting you know this so you can take precautions for the mistakes that everyone inevitably makes. We are only human. The more experience you have, the fewer you make, but everyone makes them. That is why it is a good idea to have a few trades going on and not put all your money into one trade. But just a few, you want to stay focused and not over-trade. That’s why I am only focusing on the grain markets. But if you have a few trades going and you do lose money on one trade, the others should help cover it. If you have all your money in one trade, and make a mistake, you could be set back a long way!
Wheat futures did bounce up a little like I said, and moved back down on Friday. Wheat appears to be ready for a move down, but the indicators are showing that wheat could make a move up, so I would watch the support closely, and be ready for a jump up. If wheat moves below support, it could move lower.

Corn futures bounced up a little off support like I thought, and then dropped on Friday. The indicators aren’t very certain right now, but I am still holding out for more of a drop. Just keep your stops placed.

Soybean futures bounced back up a little (just remember that “a little” in soybeans is still quite a lot of money!) But Soybeans didn’t break resistance and I still think they will resume the downtrend. I would be careful if they do break resistance.

Rough rice futures have made another big move down like I indicated in my last few posts. Rice only moved up slightly at the beginning of the week, and dropped hard on Wednesday, Thursday and Friday. Rice has made a pretty good drop in the last two weeks and there could be a rebound, so I would keep a close stop or take profits. You could re-enter if it resumes the downtrend. I think Rice could make a trend down, but there is a lot of volatility right now, so be careful. I’ll let you know if I get a more definite signal.
As always, keep your stops placed.

May Chicago wheat ended the week at 461.4, up .80¢ for the week.

May corn ended the week at 403.2, up 3.8¢ for the week.

May oats ended the week at 291.0, up 16.6¢ for the week.

May soybeans ended the week at 769.4, up 16¢ for the week.

May rough rice ended the week at 9.790, down .540¢ for the week.

grain, trading, commodities, futures, investing, markets

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Grain Commodity Futures Trading, Grain Commodity Futures Market Predictions

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