Wheat Futures Rally Sharply On Weather Concern

31 Jan in Blog, corn, soybeans, whaet

The story today was the sharp rise in wheat futures caused by crop concerns in the Midwest. With unusually warm temperatures throughout the Midwest with some areas breaking record temperatures including Chicago which was 60 degrees today. The breakout in wheat is 6.71 if it can close above that price look for a possibility of $7.50 a bushel or even higher. Wheat futures for March delivery closed higher by 22 cents to close around 6.67 a bushel. Soybean futures rebounded slightly after yesterday’s sharp loses to rally up 15 cents to close around 11.98 a bushel. Weather in South America has improved over the last couple of weeks and they should have an excellent crop. Corn futures were also slightly higher at 6.40 a bushel up around 8 cents for the day. Corn was 10 cents higher earlier in the session when you had the rest of the commodity sector on their highs as well before selling off due to a stronger dollar. If you need to go over hedging please give me a call at 800-615-7649.

Home  | Privacy Notice | Risk Disclosure | Contact Us

Trading Futures and Options on Futures transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Past performance is not necessarily indicative of future results.

Trading results obtained by a client while trading a demo account may not be indicative of the results obtained
when trading a live account due to the fact that trades are not sent to a regulated exchange but they are sent
to a simulated off-exchange server.

© 2017. Seery Futures. All Rights Reserved.