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Here Is My Wheat Trade

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Wheat Futures---Wheat futures in the December contract is currently trading up 2 cents at 5.40 a bushel as I am now recommending a bullish trade while placing the stop loss under the contract low which was hit on June 26th at 4.78 as an exit strategy as the risk is around $3,100 per contract plus commission & slippage.

This trade should only be taken with the larger account as the risk is high, however I will change the stop loss in next week's trade therefor lowering the risk as I do want to give this some room due to the volatility. At the present time I also have bullish recommendations in soybeans and soybean meal as I think corn is also headed higher as the grain market across the board looks strong as the risk / reward is in your favor to take a bullish position.

Wheat prices are trading slightly below their 20 but still above their 100 day moving average as the trend is mixed as I'm sticking my neck out on this trade due to the fact that prices are right near a 3 week low low which I don't do very often. For the bullish momentum to continue prices have to break the September 1st high of 5.68 in my opinion as we start to enter the highly volatile autumn and winter season for wheat prices.

TREND: MIXED

CHART STRUCTURE: IMPROVING

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

TWITTER---@seeryfutures

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.

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