Trading Recommendations for Commodities Futures

By Marc Nemenoff
21 May 2009 @ 09:33 am EDT

Grains: Yesterday Beans were 7 cents higher, Corn fractionally higher and Wheat 9 higher. Over night Beans were 14 lower, Corn 3 lower and Wheat 4 lower. With yesterday’s break from the early morning highs the market has set resistance in July Beans at 1185’0, July Corn at 435’0 and July Wheat at 604’0. I suspect that there will be some profit taking before the Holiday weekend. We remain long out of the money calls and/or call spreads in July Corn.

IBTimes Commodity Commentaries

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