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Wheat Rallies 35 Cents This Week


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Wheat Futures---Wheat futures in the May contract settled last Friday in Chicago at 4.39 while currently trading at 4.63 right near a 2 week high. Prices on Monday traded as low as 4.27as we have now rallied about $0.35 due to the fact of lower acre estimates and extremely turbulent weather conditions in the Great Plains part of the United States.

If you have followed any of my previous blocks you understand that I have been bearish for some time, but it looks to me that a bottom in corn and wheat finally has occurred.

If you are short a futures contract I would place the stop loss above the 2 week high standing at 4.64 as an exit strategy. Heavy rain & winter storms are causing flooding concerns and that is why you're seeing corn rally as well. We are now heading into the spring & summer months as weather will be the main focus for prices as the volatility certainly will expand to the upside in my opinion.

TREND: ---MIXED

CHART STRUCTURE: EXCELLENT

VOLATILITY---INCREASING

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: 5da1f85979b7117b

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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