What’s Up, What’s Down: Wheat is the Rising Tide that Lifts all the Grain Markets
Comments for Thursday, August 5, 2010
Looking Ahead to Today by Reflecting Back at Wednesday’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 to sharply higher closes Wednesday for Minneapolis, Kansas City and Chicago wheat along with oats, rough rice soybeans, soymeal, soyoil and corn all being led by the wheat. All of the wheat continues to move higher with Minneapolis making a new CONTRACT HIGH CLOSE while KC made a new CONTRACT HIGH AND CLOSE. Chicago had its best high and close since June 4th 2009. Corn had its highest high since the middle of January looking strong with the help of the wheat.
Oats had another strong close(highest close since January 11th) also looking very strong overall. Rice continued moving higher(4th trading session in a row) after giving me a buy signal on July 30th. The bean complex also closed strong with beans making its highest close since January 6th, meal since December 16th and oil March 10th. BUY 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 email@example.com.
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.