Saturday, August 22, 2015
Corn prices in my opinion are overpriced due to the fact that we will have another tremendous crop here in the Midwestern part of the United States as I think the last week was just a kickback as prices filled the gap around $4.00 in last Monday’s trade as I think prices are headed lower with many of the commodity markets including crude oil and sugar prices, so continue to play this to the downside taking advantage of rallies as the chart structure and the monetary risk will be lowered here in the next couple of days.
This summer has flown by as usual but I see no reason to own grains or any other commodity at the current time especially due to the fact that Brazil is going to produce another record crop in corn and soybeans so maintain the proper stop loss while maintaining the proper risk management of 2% of your account balance on any given trade as I’ve not been in the corn market for a couple of months but at this point I think a downturn is coming upon us especially with harvest around the corner. TREND: LOWER –CHART STRUCTURE: IMPROVING
at 12:02 AM