GRAINS: 11/17/09 Higher to sharply higher closes Monday for soybeans, soymeal, soyoil, Minneapolis, Kansas city and Chicago wheat along with rough rice, corn and oats. All of the wheat gave me buy signals today with all making their highest closes since August. Corn made its first close over 4 dollars basis the December contract since October 22nd giving me a second BUY SIGNAL. Rice closed sharply higher now in a resistance with its KEY REVERSAL from last Wednesday still in tact but being threatened. Oats also settled higher continuing its up-trend overall The bean complex also closed strong with my bean sell signal still in tact but meal is forming a potentially large bottom while oil exploded to its highest close since June. I am holding Buy Signals for Corn, Oats and Soyoil; Sell Signals for Soybeans.
Join the Discussion