Tuesday, December 21, 2010

quiet trading 12-21-10 in the grain markets

rather quiet choppy trading was noted in the grain markets today; the range that we seen for corn and wheat one of the smallest in some time

particularly in corn where some contracts only had a 5-6 cent range

the question is what does it mean?  Anything? 
Technically it would be consider consolidating and with the light trading markets it shouldn't be a big surprise; what will be more important is how we eventually breakout of the consolidation we are presently in.  Will it be to the upside or to the downside; many charts for corn, beans, and wheat are up near resistance and have formations that are coming together; i.e. triangles or up trends and down trends..........

hopefully the break out is like the 2008 January USDA report.......not like the last couple of years.....

No comments:

Post a Comment