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.
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