What’s Up, What’s Down: Grain Market Report
Comments for Wednesday, September 15, 2010
Looking Ahead to Today by Reflecting Back at Tuesday’s Price Action
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors.
Higher closes yesterday for oats, corn, soybeans, soymeal and rough rice while lower Minneapolis, Kansas City and Chicago wheat along with soyoil. All of the wheat continue to look higher along with the rest of the grains with nice rounding bottoms in place. Of course, as I’ve mentioned many times before, my success rate with this type of formation hasn’t been very good. Rice closed higher again breaking out of a bull flag with its best high and close since May 4th. Oats made its best high since October 2008 before settling lower in reversal type action. Corn continues to move higher with its best high and close since October 8th 2008. The beans and meal settled higher while oil closed lower but no changes technically. The bean complex continues to be in an uptrend overall while the spreading of corn against the beans holding back the latter. SIGNALS FOR MINNEAPOLIS, KANSAS CITY AND CHICAGO WHEAT ALONG WITH SOYBEANS, SOYMEAL, SOYOIL, CORN, OATS AND ROUGH RICE. CALL FOR DETAILS!
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Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at firstname.lastname@example.org.
The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.