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Corn Prices Higher 2nd Day In A Row


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Corn Futures--- There must be a God in my opinion as corn has traded higher for the 2nd consecutive session for the 1st time in about a month as I've talked about this market on multiple occasions I do think the downside is limited, but I also think the upside is limited for the rest of 2018.

Harvest is estimated to be around 91% complete in the U.S & should be wrapped up in the next week or so as that is a good thing if you are bullish this market as ending harvest generally creates a seasonal bottom as I do think historically speaking corn is cheap.

Corn futures are still trading under their 20 and 100 day moving average telling you that the trend is to the downside & if you are short a futures contract I would place the stop loss above the 2 week high standing at 3.62 as the risk is only about 6 cents or $300 per contract plus slippage and commission as the chart structure is outstanding at the current time due to very low volatility.

Large money management funds are short 230,000 contracts which is an all-time record as they clearly believe lower prices are still ahead, but I will sit on the sidelines & look at other markets that have higher volatility and better potential as the real volatility probably will not come into this market until spring as we now will focus on the 2018 crop with estimations of around 91.4 million acres planted which could produce around 14.6 billion bushels with ideal weather conditions.

TREND: LOWER

CHART STRUCTURE: EXCELLENT

VOLATILITY---LOW

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

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Email: mseery@seeryfutures.com

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There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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About the author


Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
 
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
 
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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