Grain Market Lower Across The Board
Grain Futures--- The grain futures this morning are open up slightly lower in sympathy with the rest of the commodity sectors due to pessimism over the French elections which elected a socialist increasing concerns by many that the new government may try and weekend a German led austerity plan which is causing the commodity markets to be lower as well as stock markets with July soybeans closing on the night session down 7 cents currently at 14.71 while corn futures were only down two cents the July contract at 6.08 a bushel. Wheat futures were unchanged for the night session finishing right at 6.04 looking to break that six dollar mark in today's trading. I do expect high volatility in the grain market this afternoon as well as all the commodity markets when you start receiving news that affects an entire continent you will see large swings in prices. The contract high in the July soybeans as 15.12 which happened last week before reversing down the current prices looking to support around 14.50 a bushel if it breaks that a possible top may be in place in the short term. 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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