Grain Prices Mixed In Lack Luster Trade 1-27-12

27 Jan in Blog, corn, grains, soybeans, wheat

Grain Futures—  A quiet day in the grains today with very little fundamental news to determine price direction. Soybeans futures opened lower and stayed lower all afternoon closing down 5 cents near its low of the day to close around 12.18 a bushel. This market is still a very choppy market with large swings on the up and down side. Look at some cheap option calls or a possible bull call spread in the April contract if you believe grain prices are going higher. Corn futures were strong all day long closing higher by 7 cents to close around 6.40 a bushel. These markets are still in bullish trend however they do have pullbacks that can be dramatic. Look at the next USDA report which is coming out in the 2nd week of February for short term direction or focus on South American weather which also will have an impact. Wheat futures were lower all day to close around 6.47 a bushel in a lack luster trade. If the Fed does enact QE3 look for everything to rally sharply as it did in late 2010 during QE2. If you have any questions please call me at 800-615-7649.

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