Grain Futures Update

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


Posted on 1/9/2019 6:34:54 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

Higher closes for rough rice, oats and Chicago wheat while lower for corn, soybeans and soybean meal along with Minneapolis and Kansas City wheat. Just a reminder about the charts below. They only show a small period of time which may make my comments look different from what you see below. Meanwhile the grain complex along with the rest of the commodities have little or no fundamental news due to the partial government showdown. I am a strong believer in using fundamentals and technicals together in some form to analyze the markets. In my case I use the fundamental news in an attempt to judge how much of that news is already discounted in the marketplace. Technicals, for me, is about timing. You can be right ten times in a row and still lose your funds without good timing and money management. As 2019 evolves we should see many of the problems plaguing us when it comes to our dealings with China, etc. and our government obstacles leading to in fighting get resolved to varying degrees. Then we will hopefully, get a better handle on what's going to happen. At the worst this should remove some obstacles affecting our evaluations. For now Minneapolis (needs a close above 610) has stalled in a good looking resistance area from around 565 to 585. On the other hand KC (needs close above 550) may be forming a bottom as evidenced below while Chicago (needs a close above 550) had its worst low since January 2018 last Wednesday. Oats continued in to a trading range (270 - 300) heading nowhere in my opinion at this time. Rough rice continues to hold its September low seemingly going nowhere but can be sold around eleven dollars where decent looking resistance resides. Like I've said ad nauseam, no matter what the fundamental news has been, corn remains in the same trading range (350 - 400) since last June. Just trade the range which is now starting to shrink a bit probably until the planting season begins. IN SPITE OF NOT SO GOOD FUNDAMENTS THE SOYBEAN COMPLEX CONTINUES TO SHOW TECHNICAL SIGNS OF POSSIBLY TURNING AROUND. The beans are now in a resistance area but have been moving higher since the middle of September. Meal made its highest high since October 18th on Monday while oil continues to hold its November low even if it hasn't really gone anywhere. Meal still needs close over 330 and oil 3050 to begin possible turnaround. BUY SIGNALS FOR OATS AND SOYBEANS. SELL SIGNALS FOR CORN, MINNEAPOLIS, KANSAS CITY AND CHICAGO WHEAT ALONG WITH SOYBEAN OIL. For additional charts, quotes, news, commentary & more, sign up for a FREE 30 day trial to

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