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Wheat Prices Sharply Higher !

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Wheat Futures---Wheat futures in the December contract is trading higher for the 2nd consecutive session up $0.12 at 5.25 a bushel continuing its bullish momentum to the upside as this market looks to move even higher in my opinion.

I have been recommending a bullish position from around the 4.82 level and if you took that trade continue to place the stop loss under the 10-day low which now stands at 4.85 as wheat prices hit a 3-month high and looks to test the 5.50 level in my opinion.

One interesting fact about this commodity is that the open interest is rising and that tells you that there is fresh buying of this commodity and that is a good sign for higher prices ahead as we are trading above the 20 and 100 day moving average as demand is starting to enter this market which is a terrific thing to see so stay long and continue to place the proper stop loss.

At the current time I'm also bullish soybean meal and corn as I think the whole grain market is going higher as it looks like we will come up with an agreement with China on trade in the next month as I see no reason to be short.




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




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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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