Commodity Update- June 29, 2007-A Wild Ride For The Grains

It was really a wild ride in the grain markets today. December wheat was down sharply today, down 22.4 cents which is equal to a move of $1330. On the other hand, November Soybeans were up very sharply, 39.4 cents, which is equal to a move of $1970. September Corn, which I have been watching for a possible trade, was down 10 cents today and finally broke through and closed below that strong 350 level of support. September Corn closed at 340 cents today. I still think this market could very well make a move down to the 300 level, but I would like to see a pull back from today's close of 340 to back near the old support level of 350 before I enter a trade to the downside. So, I'll keep watching this market.

October Sugar closed today still well within the sideways channel that it's been in for the last two months. October Sugar was down 9 points today and closed at 9.52 cents. So, I'll just have to keep waiting for the breakout in October Sugar.

That's it for trading this week. For a look at my actual completed trades, please go to www.mylearn2trade.com. Have a great weekend.

Commodity Trading Update-June 28, 2007

The September Canadian Dollar, which was one of the prospective trades on my radar screen, gapped up and closed well outside the pennant formation that prices have been in the past several weeks. It was a huge move with prices closing up 95 points today which equals a $950 move. However, because of the huge gap up, I'm not going to chase this market and I'll wait and see if this market can come back down and fill the gap.

Another trade which I have put on my radar screen is November 2007 Soybeans. After making a contract high in early June, prices have pulled back under the support level at 845 cents. Trend Seeker says the trend is Neutral, but if Trend Seeker switches to an Up trend and if there is a close in the range of 845 to 850, then I will go long on one contract. There is the potential for a good move here as the upside target is the contract high of 893 made on June 18.

October Sugar closed today at 9.61 cents. I still need a close above the top of the channel at 9.83 cents before going long on a contract.

For a look at all of my prospective trades, please go to www.mylearn2trade.com.

Update For June 27, 2007-Opportunity To Short September Corn

The grains have certainly been volatile markets of late and corn is no exception. But, corn prices have established a downtrend now. Trend Seeker, in fact, confirms a downtrend on the September contract. What's more, September corn looks as if prices are about to break through a major support level at 350. Today, prices on the September contract were down 13.2 cents to settle at 353.6. If prices can close below support at 350, then there would be a trigger to short a contract.

The good news is that if corn prices break this support, then a trader can look to the 300 cent level as the first profit target as this is the next support level. Of course, the bad news is that corn prices are extremely volatile right now and prices can turn around on a dime. Still, I do believe that this trade deserves serious consideration.

For a look at all of my prospective trades, please go to www.mylearn2trade.com.

Commodity Update For June 26, 2007-Oats May Present Another Opportunity

After falling sharply last week, December Oats looks like it's on the rebound this week. Oats dropped until it found support at the 270 cent level. If Oats moves above the next support at 277, then another trade to the upside may be triggered if Trend Seekers rating changes to Up. Right now Trend Seekers' rating is Neutral. Trend Seeker may change over to an Up rating this evening so the trade could be triggered tomorrow.

For a look at all my prospective trades, please go to www.mylearn2trade.com.

Update For June 25, 2007- Still watching For A Possible Trade

With the grains in such disarray, there's not a whole lot of immediate prospective trades on my radar right now. I wrote in Friday's blog about possibly going long on the September Canadian Dollar if prices close outside the pennant. Prices closed well within the pennant today so for now there is no trigger for that market.

I've also been looking a October Sugar for a possible trade for quite a while now. Sugar has been in a sideways channel since April of this year. At times prices for October Sugar have looked like they were going to break out to the downside of the channel. More recently, prices looked like they were going to break out of the top of the channel. Certainly the bottom of the channel is providing very strong support and the top of the channel is providing very strong resistance. On Friday, prices were close to breaking out of the top of the channel only to pull back sharply inside the channel today. My own opinion is that this market is in for a big move if it ever breaks out to the upside of the channel, but for now all I can do is keep watching.

To take a look at my prospective trades and completed trades, please go to www.mylearn2trade.com.

Commodity Update-June 22, 2007-Sharp Decline For The Grains!

Now I'm sure glad that I got out of my corn trade yesterday even if I was stopped out with a $200 loss. (Please see yesterday's blog for details of that trade.) Today, all of the grains, including corn, were down sharply. September Corn was down 18 cents today, September Soybeans were down 21.4 cents, and December Oats were down 5 cents.

So, with the grains dropping so sharply, the grains are now off my radar for immediate prospective trades. I will keep watching them of course.

Right now I have no other trades immediately ready to enter into. The September Canadian Dollar is one of the few possibilities for a trade setting up. If the September Canadian Dollar can close above its pennant formation, then I'll have a trigger to go long. Trend Seeker says the that September Canadian Dollar is in an uptrend.

October Sugar is another trade possibly setting up. October Sugar has been in a long sideways channel since early April. Trend Seeker says the trend for October Sugar is up and a close above the top of the channel will trigger a trade to go long.

So, that's really it for prospective trades. For now, I'm just going to have to keep watching the markets and waiting for opportunities.

Be sure to check on all my trades at www.mylearn2trade.com.

June 21, 2007 Update-Corn Trade Is A Wild Ride!

I finally got into a trade today, at least for a little while until I was stopped out. I had been looking to go long on September Corn if prices could pull back to support at the top of the channel at 394. I had been looking to enter a trade if prices fell back into a range of 399 to 394. Prices fell into that range soon after the open today. I put in an open order to get filled at 399.5 or lower. I ended up getting filled at 398.5. Unfortunately, I got stopped out at 394.5. So, that's a loss on the trade of 4cents or $200. I'll continue to watch this market and get back in if prices remanin in the 399 to 394 range.

To take a look at other markets I'm watching, please go to www. mylearn2trade.com.

Commodity Update - June 20, 2007

It looks like a number of commodities are trying to find direction. It especially looks that way in the grains after such a tremendous day to the downside yesterday. Corn had a mixed day today with the July contract down 1.6 cents whicle the September contract was up .2 cents. September Oats was up 3.6 cents today but really had a wild intraday swing between its high and low of the day. The high of the day was 283.6 cents and the low was 272 cents which is a $580 intraday swing. Since the grains are so volitile right now, I'm just going to watch them for the time being until I can determine a good place to get into either September Corn, December Oats, or September Soybeans. The only grain that really has a tradeable formation right now is September Soybean Oil. September Soybean Oil has formed a pennant formation and a close outside of the pennant will trigger a trade to go long.

For a look at all the prospective trades I'm watching, please go to www.mylearn2trade.com.

Commodity Update-June 19, 2007-Grains Have Large Correction!

All the grains had major corrections today with September Corn being down 20 cents which is a $1,000 move. September Soybeans was down 26.6 cents, December Oats was down 16.2 cents. Of course, I have been waiting for a correction or a pullback in the either December Oats, September Corn, or September Soybeans to find a place where I could enter any of these markets. I may be able to do that assuming that these markets find support tommorrow. For example, if December Oats can hold its decline at support at 278, then I could go long at 282. My immediate profit target would be the December contract high at 295, which would yield a profit of about $650. One thing to keep in mind about Oats is that there is major resistance on both the weekly and monthly charts at 300, so this will be a formidable barrier for prices to rise above.

For a look at all my prospective trades, please go to www.mylearn2trade.com.

Commodity Update:June 18, 2007 - Is Sugar Ready For A Turnaround?

Sugar had a really strong up move today. Sugar was up 58 points to close at 9.56 cents on the October contract which brings sugar back to the top of the channel that it's been in for the last two months. So, if sugar can close above the top top of the channel and the Trend Seeker rating changes to Up, then that would be a signal to enter a long position in sugar. There's a number of resistance levels above the top of the channel. For example, the October chart shows a lot of resistance around the 11 cent level. Sugar will have to break through this level of resistance to have much chance of making significant gains. But, right now, we'll just have to wait and see what sugar is going to do in the near time.

To take a look at all of the prospective trades I'm considering right now, please go to
http://www.mylearn2trade.com.

Commodity Trading Update - June 15, 2007

It's been frustrating lately waiting for the right opportunities to enter the trades I'm watching. The grains I've been watching, such as September Corn and September Soybeans continue to move up. Corn either need to make a new high so I can enter using the Hi-Lo breakout strategy or move back down to support which is the top of the previous channel that corn was in since the first of April.

September Soybeans closed today at 862.6 cents which is above its previous high made yesterday of 852. Now, I would look to get long if prices on Monday pull back close to the 852 area.

Although yesterday in October 2007 Sugar there was a close below the bottom of the channel that sugar has been in, I did not enter a trade today as prices rose back well into the channel. So, I'll continue to watch this market.

To take a look at all of the prospective trades I have on my radar right now, please go to
www.mylearn2trade.com.

June 14, 2007 Commodity Update

September Corn is still continuing its uptrend, up five points today. So, I'm still waiting for a pullback before I enter this market. September Soybeans were up 1.6 cents at 843.6 cents. I'm either wanting a pullback close to the 830 level or a close above the previous high of 850 before entering this market.

October Sugar did give a signal for entry as prices finally closed below the bottom of the channel at 8.81. Trend Seeker is still showing a strong downtrend.

For a look at all of the prospective trades I am looking at, please to www.mylearn2trade.com.

Update For June 13, 2007-Watching Sugar

The October 2007 Sugar contract has been in a long downtrend since July of 2006. I'm looking to short the October contract based on the breakout of the channel that prices have been in since the last of April. I'm needing prices to close below 8.82 which is the bottom of the channel. Prices have moved below 8.82 in the past three trading days, but still have not closed below 8.82. Hence, I don't have a signal to enter the trade. I'm looking for an initial downside target of 8.00, which would yield a profit of 906.00.

For information on other prospective commodity trades that I'm looking at, please go to
www.mylearn2trade.com.

Close To An Entry In September Corn.

September Corn finally closed above the top of the channel that corn prices have been in since the first of April 2007. However, prices closed at 405 and I wanted to buy on a pullback nearer to the top of the channel, which is 395. Today prices did pull back and ended up closing at 402.4. I'm looking to get an entry somewhere between 395 and 399. Maybe I'll have that chance tomorrow.
Trend Seeker is now showing corn in an uptrend with an extreme rating.

For more information on commodities trading and other prospective trades I am looking at, please to www.mylearn2trade.com.

Watching For A Chance To Get Into The Grains.

I'm still patiently watching for a chance to enter at least one of the grain markets. My top prospects right now are corn, soybeans, and soybean oil. Corn has just finally closed above the top to the channel that it has been in since the first of April of 2007. I'm looking at September corn and September corn closed today at 405. If September corn can pull back a little to just above the top of the channel at 395, then I want to go long this market. My first upside target is the contract high of 442 which was set on February 22, 2007. I'm hoping this pullback will occur tomorrow, June 12.