Corn Prices Plummet To New Lows; How Low Is Corn Going ?
Grain Futures---The grain market had a wild trading in Chicago today with soybeans trading nearly 20 cents higher earlier the trading session only to sell off and finish up 3 cents in the November contract at 12.93 a bushel while corn and wheat are getting absolutely crushed once again today with the July corn down another 17 cents to hit new fresh lows at 5.61 a bushel all due to lower temperatures across the board with excessive rain and a possible 15 billion crop coming out this fall. July wheat continues its roller coaster ride down another 23 cents currently trading at 6.57 a bushel with absolutely no trend in sight with one of the choppiest markets I've ever seen in my entire trading career with straight up moves and then straight down moves accomplishing absolutely nothing. The grain market in my opinion is still very bearish while the Euro currency has turned around once again to a new to two month low causing commodities to selloff also with a very good start to summer planting which definitely puts pressure on prices in the short term, however it is a very long growing season and the one thing I learned in the grain market is all you need is a two-week span of 95° and no rain and the market turns on a dime to the upside so be careful if you are planning on entering the market make sure to always use a stop loss to try to minimize your risk in case you are wrong and make sure that you use a solid money management technique as well. If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.
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