Grain Futures Update

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


Posted on 8/28/2019 6:58:37 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

Higher closes Kansas City and Chicago wheat while lower for soybeans, soybean meal and soybean oil along with oats, rough rice and corn. SOYBEAN SALES ARE THE LOWEST IN 13 YEARS AND CORN IN 14 YEARS. THE FARM FUTURES SURVEY SAYS PLANTING FOR BEANS WILL BE UP FOUR MILLION ACRES AND SOYBEANS SEVEN MILLION ACRES. The wheat complex continues to look very bearish with Minneapolis making THE SAME CONTRACT LOW ON MONDAY AND TUESDAY ALONG WITH A CONTRACT LOW CLOSE ON TUESDAY. THEREFORE, THERE IS A FRAGILE DOUBLE BOTTOM IN PLACE FOR NOW. KC has been consolidating over the last couple of weeks which could also possibly be a BEAR TRIANGLE. Chicago has been making lower highs and lows since late July now just above some support. Oats have been in a trading range (276 3/4 - 262) since July 18th while now in a support area. In my opinion most technical formations point to lower prices at this time. Rough rice gave me a SELL SIGNAL on August 19th and should continue lower overall. Taking out 1125 was also a critical bearish sign in my opinion. Corn continues to fall now trading around May's lows. However, a gap remains above at 392 3/4 giving me a trade recommendation that should have a better chance of working than most CALL ME FOR DETAILS!  Corn continues to fall, evidenced by Tuesday's lowest low and close since the middle of May, as the tide has turned from earlier in the year forecasts and now the bean complex seems to have the better chance of rallying according to our HEDGING DEPARTMENT. Soybeans have been trading lower since June 18th and now is in some suppot. I'm standong aside for now but you could make a good case for the beans to continue lower in spite of some potentially bullish fundamental indications out there. CALL ME AND I WILL PUT YOU IN TOUCH WITH OUR HEDGING DEPARTMENT FOR A CLARIFICATION OF WHAT I JUST SAID. Meal continues to look obviously bearish making its worst low since May 13th while oil is in a major looking support area after retracing lower over the last two weeks. If you must take a position in oil do it from the long side. SELL SIGNALS FOR MINNEAPOLIS, KANSAS CITY AND CHICAGO WHEAT ALONG WITH OATS, ROUGH RICE, CORN AND SOYBEAN MEAL. For additional charts, quotes, news, commentary & more, sign up for a FREE 30 day trial to

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