Weather, Planting Progress and the Need for Follow Through Drive the Softs

From the floor of the CME Group, Chris Robinson for Traders Exclusive, reviews the grain and bean markets and planting progress. There was a lot of selling pressure on the complex starting last night. Planting progress is going almost perfectly, at least the next 10-14 days out but the key is follow through. Robinson reviews key levels as July beans were at an 11-month high, same thing with the November contracts. If there is no follow through there, you will see some selling pressure. Two different markets with the July and November contract and the new crop/old crop spread. Kansas City saw a nice rally but since the bullish information has been out there, it needs to be fed on a daily basis. Robinson also reviews key levels in wheat as bulls and bears could be fighting it out for some interesting action. Same thing applies to the corn market. The biggest variable right now is weather.
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From the floor of the CME Group, Chris Robinson for Traders Exclusive, reviews the grain and bean markets and planting progress. There was a lot of selling pressure on the complex starting last night. Planting progress is going almost perfectly, at least the next 10-14 days out but the key is follow through. Robinson reviews key levels as July beans were at an 11-month high, same thing with the November contracts. If there is no follow through there, you will see some selling pressure. Two different markets with the July and November contract and the new crop/old crop spread. Kansas City saw a nice rally but since the bullish information has been out there, it needs to be fed on a daily basis. Robinson also reviews key levels in wheat as bulls and bears could be fighting it out for some interesting action. Same thing applies to the corn market. The biggest variable right now is weather.