So far today, we have typical choppy holiday trade this Christmas Eve Day session.
Wheat is the loser, so far, down 6 cents in WH at 523. The 525 strike price is attractin the trade today. In the Jan beans, SF is resting at the 1001 level, basically unchanged. And the March Corn, the darling of the longs, is up 1 3/4 cents at 406 1/2.
The trading ranges so far today are :
WH, High 525, Low 521, last 523.
CH, High 408, low 405 1/4
SF, High 1008, Low 998, last 1001
A ten cent range in SF, a four cent range in WH, and a four cent range in CH.
Now you can see why I suggested that these markets are best left alone.
On a chart note, the recent break in beans, gives us a potential target at 1030, half way back from the 985 low and the 1070 high, FYI.
March wheat has good resistance at 550 on the daily charts.
March corn is currently sitting in the middle of its 3-month trading range between 380 and 425.
Good Trading
