Soybeans Make Contract Highs; Wheat & Corn Lower

The Grain market was mixed today with wheat finishing 15 cents lower $6.57 a bushel in the May contract with corn futures for May 9 cents at $6.52 a bushel however the soybeans and the soybean meal continue their bullish run with soybeans finishing10 cents higher 13.35 a bushel and a new contract high in the May contract also soymeal is hitting new contract highs at 363.40 up over seven dollars and showing real strength when the commodity sectors today were pummeled to the downside on the fact that China has lowered their growth rate to 7.5% a year, however there is no stopping the soybean meal and the soybeans at this point. Oat futures for May were slightly lower down three cents at 3.05 a bushel while rough Rice futures were only down nine cents at 14.26 a bushel in the May contract in very light trade in Chicago today. I still advise traders to keep close stops on the soybean market just in case what has happened to silver and many the other commodities markets which have fallen a sharply in a matter of three or four days which also could happen to the soybean market going into a report on Friday which will release crop production, traders should have stops and  a risk management system in place so you do not allow the soybeans to give back solid profits that you have gained for the last three weeks practically when every single day the beans have been slightly higher, so be careful on the downturn because when it comes it could be sharp and quick.