Chris Robinson Analysis: Commodity Market Weekly Review
The grains had a good rally and there has been a delay in the harvest. In cattle, last Thursday, there was key reversal day.
In today's Traders Exclusive, Chris Robinson gives his take on the grains, meats, and cotton markets. Since the lows a couple of weeks ago, we've seen a decent rally in soybeans, corn, and wheat. The major trend has been downward for the grains, which makes these recent moves likely to be counter-trend rallies, and thus selling opportunities. Key levels to watch include 9.50 for beans, 3.50 for corn, and 5 for wheat. For cattle, a new high could be a possible long entry. Cotton has bounced along with the grains. The 65 cent level is key, but it's not a very liquid market and one needs to be very careful with position sizing when trading cotton.
