Wheat Rallies 35 Cents This Week

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

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

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.