Grain Futures Update

News & commentary on Grain Futures markets including wheat, soybeans, corn & more.

Grain Futures Update is a blog dedicated to bringing updates, news and commentary on grain futures markets including the commodities wheat, corn, soybeans and more.

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PRETTY MUCH NO CHANGES. GRAIN STOCKS AND SMALL GRAIN REPORTS ON FRIDAY

Posted on 9/25/2018 1:16:07 PM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.


Higher closes for Minneapolis, Kansas City and Chicago wheat along with oats, corn, soybean meal and soybean oil while lower for rough rice and soybeans. No major news to report while waiting for the grain stocks and small grain reports on Friday. Even then we're not looking for much change. Higher bean and slightly higher wheat stocks while lower corn stocks is forecast. The small grain report forecasts for the wheat is slightly lower than the USDA's estimates. Therefore, I am still thinking we can surmise that there is very little bullish and a whole lot of bearish fundamental news out there at this time. STILL BE CAREFUL OF BEING SHORT ON THE WEEKENDS UNLESS YOU ARE HEDGING AND/OR USING OPTIONS BECAUSE AN AGREEMENT WITH CHINA ON TARIFFS WHEN THE MARKETS ARE CLOSED COULD BE DEADLY FOR THE SHORTS IN THE NEAR TERM. I'M JUST SAYING! However, that seems unlikely to happen right now with Trump putting more tariffs on Chinese product. Continue to buy Minneapolis around 540 and sell around 620 (shorter term use 560 and 600). Buy KC around 490 and sell around 600. Buy Chicago around 500 and sell around 580. Play these parameters for now at least until we see a breakout(s) in either direction. Oats have had a nice 35 cent rally over the last seven trading sessions now at the cusp of some decent resistance. Their long term trend, however, remains down and I would need to see a close above 280 to possibly change my thinking. Rough rice just made a new CONTRACT LOW AND CLOSE yesterday with its nearest resistance around fifty cents higher from its present level. Corn just had a 31 cent rally from last week's report now in good resistance needing, a least for me, a close over 400. The soybean complex held its own since my last report actually retracing higher a little bit, Beans seem to have very little working in its favor except a great crop forecast. Continue to use 920 for beans and 2950 for oil as good prices to close above for a possible reversal in their respective down trends or at least a chance for a decent retracement rally. SELL SIGNALS FOR CORN, SOYBEANS, SOYBEAN MEAL AND SOYBEAN OIL. For additional charts, quotes, news, commentary & more, sign up for a FREE 30 day trial to markethead.com.


Posted on 9/24/2018 2:09:09 PM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

 


Posted on 9/24/2018 6:49:58 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

 


Posted on 9/24/2018 6:46:52 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

 


Posted on 9/24/2018 5:34:29 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

 


Posted on 9/20/2018 2:07:29 PM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

 


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