Are Corn Prices Going Lower ?

30 Oct in Blog, commodity consulting, commodity trading, corn futures, futures broker, Kansas City wheat, Michael Seery, Minneapolis wheat, oat futures, rough rice futures, Seery, soybean futures, soybean meal futures, soybean oil futures, wheat futures

Corn Futures--- Corn futures in the December contract settled last Friday in Chicago at 3.80 a bushel while currently trading at 3.80 unchanged for the trading week as I’m now recommending a short position from today’s price level while placing your stop loss above the 10 day high which currently stands at 3.88 risking 8 cents or $400 plus slippage and commission. If you have followed my previous blogs you understand that I have been avoiding the grain market for quite some time but the risk/reward is your favor so take a shot at the downside as prices are still hovering right near a 6 week low with outstanding chart structure.

The U.S dollar is near an eight week high which has put pressure on many commodity prices in recent days as 80% of the corn harvest is completed which is ahead of the five-year average as we produced about 13.5 billion bushels in 2015 which was another excellent growing season.

Trading in my opinion is all about risk and I think at this time with low volatility prices could head lower here in the short-term especially with very weak energy prices. Prices are trading below their 20 and 100 day moving average telling you that the trend is to the downside as traders await the next USDA crop report which will come out in the 2nd week of November. TREND: LOWER –CHART STRUCTURE: EXCELLENT

I will be hosting a live trading webinar 1 hour 1 night a week for 3 weeks starting on Tuesday December 1st --The Program will teach you how to:

• Quickly Determine Market Direction • Locate Key Areas to Enter Trades

• Read Price Action Like Being in the Trading Pit

• Find Major Market Turning Points

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-312-224-8140 he will be more than happy to help you with your trading or visit Skype Address: mike.seery3 TWITTER---@seeryfutures


If you’re looking to open a Trading Account click on this link



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