July CBOT Wheat Chart and July CBOT Corn Chart

Here are couple of charts with the futures prices for corn and CBOT wheat.

Shows the next couple of days could be important for wheat.  The corn chart shows us that despite today's nearly limit down move we have simply went back to the bottom end of the range we have had for several months.  It could get really scary if we don't hold the support.

charts for grains on July 7th

here are some charts for the grain markets for July

Will next week's USDA report be the catalyst that moves the markets down even another leg?  Or will it be another shocker that fuels the bulls and lets our bull market keep running.  Perhaps next week's weather forecasts, along with the outside markets, and the coming USDA report set price direction for the next several months.  Do the seasonals and the rule of not holding unpriced corn past July hold true this year once again or do we see the markets end up repeating last years strength during the time of the year when it is least expected.

Bottom line is the markets appear to have plenty of risk's for both up or down price direction; don't be afraid to have some sort of plan to diversfiy that risk.

The Commodity Price Sky is falling........or is it just another natural correction in a bull market for grains?

The Commodity Price Sky is falling........or is it just another natural correction in a bull market for grains?

Below are some charts to help you decide if today's price action was natural in nature, maybe a "head fake to scare producers into sales" or if the tide has turned.  My personal opinion is that it is a correction but if we follow up the weakness much more threw these support levels I think I will be jumping on the boat that the rally is over.  My thoughts for some time have been to simply manage risk and try not to pick a top; but if I have to pick a top I think it happens a little closer to the June 30th report; much like it did in 2008 and simliar to how the lows where made last year on June 29th.

Make sure you take the my opinion for what you paid for it.

Here are a few charts showing some various support levels and thoughts on where we might be heading from here.

Market rally over or just starting?

Here are a look at a couple of charts; as I ask questions like should one sell the rally or buy the break.  Is the present commodity price up move nearly over or just getting going?  Have we seen the highs on old crop corn, near crop corn, wheat, soybeans, crude........the low in the dollar in? 

Here are some charts that might help you with your opinion of the above; as for me; I will stay on the neutral side and leave things with a statement.  You don't go broke making sales that make $ense.  So from a risk managment grain marketing plan prospective nothing wrong with making a profitable sale.

As for the other questions; my view is that maybe old crop corn has a little story left in it; but personally I think any additional rally in some of the other grains will be much slower and harder then the rally we seen this past week.  Meaning a rally to new highs can be done but I am leaning towards the bearish side; which might prove wrong as the past week I don't think anyone would have wanted to stand in front of the freight train we have seen for wheat, corn, and soybeans. 

Here are some charts showing some technical points of interest.

July Corn Chart

Below are a couple of July corn charts............which price movement is the direction and which is the correction?