Soybean Prices Hit New Highs; Corn & Wheat Unchanged

 Grain Futures--- Soybean futures rallied to new contract highs in the night session last night trading up $.14 cents at 14.46 a bushel before selling off and reversing to finish down 1 penny at 14.32 in a volatile night session trade while corn futures were unchanged for the May contract at 6.58 a bushel reversing a six cent gain earlier in the session. Wheat futures were very quiet last night finishing higher by only one penny at 6.40 in the May contract while the oats for May are right near three month highs at 3.40 a bushel up 3 cents. Rough Rice futures which have broken out of a three-month consolidation were down 4 cents in the May contract at $15 dollars a barrel looking to continue their bullish momentum. Soybean meal which continues to make contract highs up nearly every day was down only one dollar to close at 391 a ton while soybean oil was up five points in a lack luster trade at 56.72. In my opinion I think that the grain market with many other commodity are starting to break down and I'm wondering if we are near a top or a high in some of the grain complexes. 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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