Today is showing some unusual tendencies, with wheat (first chart at top) showing some price strength as it approaches the magenta-colored line that represents today's upper lock limit price, while soybeans (chart 2) and corn (chart 3) were unable to hold their highs, and are showing signs of weakness. Perhaps the recent rises in corn and soybeans prices are somewhat overbought! They sure looked like it the past few days, with soybeans prices rising -- and then falling again -- more than 50 cents in two days. At the time of this posting, both corn and soybeans prices were trading below yesterday's closing prices, represented in the charts by the pink dotted lines. I expect the volatility to continue, and intend to profit therefrom.
Tuesday, January 15, 2008
Odd Switch: Wheat Strong, Soybeans and Corn Weak!
