Soybeans Hit 6 Week Low

14 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 market open mixed with soybeans for the July contract getting crushed once again down 25 cents on the night session at 13.80 being pressured by soybean meal for the July contract down 900 points currently trading at 399.8 a ton breaking major support and looking to head lower forming a major top in the last several weeks. Corn futures are unchanged in the July contract however seeing all the commodities lower and stock markets around the world sharply lower I do believe corn will trade lower at one point during the day while wheat futures for the July contract making new lows down three cents a bushel at 5.94. Soybean prices have now hit a fresh six week low with major support at 13.50 and if that is breached you're looking at possibly going all the way back down to 12 – 13 a bushel with excellent planting conditions and the general pessimism of all the commodities due to European and Chinese slowdown which is putting pressure on the stock markets as well. This is the same thing that happened in the previous three years as the saying goes sell in May and go away and that's exactly what is happening to all asset classes which are heading lower except for the U.S treasuries which is a flight to quality hitting new all-time low yields once again as investors flee stocks and commodities and park their money in the safe haven called the U.S treasuries. 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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