quiet trading 12-21-10 in the grain markets
rather quiet choppy trading was noted in the grain markets today; the range that we seen for corn and wheat one of the smallest in some time
particularly in corn where some contracts only had a 5-6 cent range
the question is what does it mean? Anything?
Technically it would be consider consolidating and with the light trading markets it shouldn't be a big surprise; what will be more important is how we eventually breakout of the consolidation we are presently in. Will it be to the upside or to the downside; many charts for corn, beans, and wheat are up near resistance and have formations that are coming together; i.e. triangles or up trends and down trends..........
hopefully the break out is like the 2008 January USDA report.......not like the last couple of years.....
particularly in corn where some contracts only had a 5-6 cent range
the question is what does it mean? Anything?
Technically it would be consider consolidating and with the light trading markets it shouldn't be a big surprise; what will be more important is how we eventually breakout of the consolidation we are presently in. Will it be to the upside or to the downside; many charts for corn, beans, and wheat are up near resistance and have formations that are coming together; i.e. triangles or up trends and down trends..........
hopefully the break out is like the 2008 January USDA report.......not like the last couple of years.....