The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Grain TV is a daily recap after the market close, providing opinions on fundamental analysis of market direction, influences and expectations. This daily program is produced by Grain Hedge, a discount brokerage firm that provides farmers and elevators with agricultural intelligence including live market quotes, cash bid data, the Grain Hedge Optimizer™ and mobile trading platforms, all for $7 commission per side. Grain Hedge provides tools to allow farmers the ability to trade when the markets move without having to wait for a broker and the information to execute a marketing strategy with confidence.
A mixed trade was the result today with corn and wheat ending lower and soybeans continuing its march higher. South American weather remains the driving force behind the soybean rally. Hot, dry weather will persist this week giving the bulls some fuel to push the market higher. The $15 level on soybeans will be the area to watch as resistance is expected to slow the rally. Corn and wheat missed expectations for weekly export inspections, while soybeans once again exceeded expectations. Tune into today's episode for a full recap.
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