Wheat Futures—Wheat futures in the December contract is trading higher for the 2nd consecutive session up $0.12 at 5.25 a bushel continuing its bullish momentum to the upside as this market looks to move even higher in my opinion. I have been recommending a bullish position from around the 4.82 level and if you took that trade continue to place…
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Corn Futures—Corn futures in the December contract is trading lower for the 2nd consecutive trading session down another $0.03 at 3.90 a bushel as the daily chart is mirroring the wheat chart as NASS reported that 96% of the corn crop was dented by Sunday (100% normally), with 73% now mature (92% average). They also showed 22% of the crop…
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What’s the difference between old crop & new crop in the agricultural commodities? When analysts and traders talk about agricultural commodities such as soybeans & corn the one thing they generally mention is old crop versus new crop and that might confuse some beginners on what exactly is the difference. I will keep it simple because the only difference between…
Coffee Futures–-Coffee futures in the December contract is currently trading higher by 130 points at 95.00 as I have been recommending a bullish position from the 101 level and if you took that trade continue to place the stop loss at 93.40 on a closing basis only as prices did go below that level at one time last Friday before…
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Wheat Futures—Wheat futures in the December contract is trading higher for the 2nd consecutive session up $0.02 at 5.10 a bushel continuing it’s bullish momentum as prices are hovering right near a 3 month high. At the current time the large money managed funds are short about 19,000 contracts as they still believe lower prices are ahead as I…
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