CME Group: Bargain Hunters Look to Grain Market as Key Technical Support Levels Approached
By: Kevin CraneySeptember 26th, 2011 2:59PM CDT
Grain markets traded in a wide range with corn and wheat ending higher while soybeans traded lower. During the overnight session, corn traded down to the key support level of $6.30 and recovered to finish the day higher. Wheat saw a recovery off of its oversold conditions to end the day higher. With a lack of fresh news to help support prices in the soybean market, prices ended the day lower. Outside markets will continue to drive the grains and attention will be focused on Chinese demand and developments out of Europe.
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Kevin Craney
Senior Commodities Broker
Kevin Craney's career in futures stems from his keen interest in trading and the markets, as well as his background in production agriculture and finance. This knowledge along with a bachelor's degree in Agri-Business from Western Kentucky University have enabled Kevin to understand the hedging needs of agri-producers, to help them manage risk and assist them with their business needs. While completing his MBA at Indiana Wesleyan, Kevin pursued a career in finance in the corporate arena as well .... Read More
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