Grain Market Lower Across The Board

04 May in Blog, commodity broker, corn futures, futures broker, futures trading, Kansas City wheat, Michael Seery, Minneapolis wheat, oat futures, option broker, rough rice futures, Seery Futures LLC, soybean futures, soybean meal futures, soybean oil futures, wheat futures

 Grain Futures--- The grain futures this morning are trading mixed with soybeans for the July contract up 1 cent to close at 1474 while wheat futures which have been pummelled this week right near contract lows once again an extremely choppy trade is higher by 1 cent currently at 6.13 in the July contract due to the heaviest supply since 1986 when prices went all the way down to 2.40 a bushel however I do not see prices going down to that level due to the fact that the U.S dollar is in a totally different price than it was 25 years ago however I do think corn and wheat prices continue to head lower in a choppy pattern. Traders are keeping an eye on the May 10th crop report which is this Thursday which will talk about South American crop and whether they cut it further decline in supplies causing another price spike which happened last month on the previous report but only time will tell and we still have a week left of that report comes out. This morning there is a lot of pressure on the energies as well as some other commodities and that also could push grain prices down in sympathy for the trading day. Corn futures are higher by two cents in the July contract 6.16 hanging on by the skin of its teeth looking to make possible contract lows next week while soybean meal which is been probably the biggest bull markets on any commodity this year was up another three dollars to settle around 429 a ton while rough Rice futures had a terrific day yesterday reversing some of earlier in the week's losses is been open right around 15.20 a bushel in Chicago today.   If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.


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