What’s Up, What’s Down: Spotlight on Grains
Comments for January 10, 2011
Looking ahead to Monday by reflecting back on Friday’s trading
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors
Wheat Contracts look higher overall; Corn in a Support area?
GRAINS: 1/10/11: Lower closes for Minneapolis, Kansas City and Chicago wheat along with corn, soybeans, soymeal, soyoil, oats and rough rice again. The wheat complex continues to look higher overall with Minneapolis and KC in BULL TRIANGLES. Chicago. though, looks a little toppy after making its lowest low and close in nine trading sessions but still in an uptrend overall. Oats had their worst low and close since Dec. 8th closing below a good support area keeping me on the sidelines while still in the middle of a trading range(350-400) started back at the beginning of October. Rice also settled lower with its lowest low and close in seven trading days in basically a sideways to lower pattern. Corn made its lowest close since Dec. 17th now in a support area while still in an uptrend overall. The bean complex settled lower still looking higher overall with the beans and oil look like they’re in small BULL TRIANGLES at this time. BUY SIGNALS FOR CORN, SOYBEANS, SOYMEAL, SOYOIL, MINNEAPOLIS, KANSAS CITY AND WHEAT. SELL SIGNAL FOR 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 email@example.com or call toll-free (888) 281-4158.
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors. The information in this Report and the opinions expressed are subject to change without notice. All known news and events have already been factored into the price of the underlying commodities discussed.