Are Oat Prices Too Expensive ?

Oat Futures---Oat futures in the December contract are unchanged this Monday afternoon in Chicago currently trading at 2.72 a bushel as I have been recommending a bearish position from the 2.75 level & if you took that trade continue to place the stop loss above the 2 week high which stands at 2.85 as the original risk on this trade was around $500 per contract plus slippage & commission.

The grain market is lower across the board today as heavy rains and hot weather is progressing the crop very nicely as we wait for this afternoon's crop progress report what should send some volatility into this market tomorrow.

Oat prices are trading under their 20 day but still right at their 100 day moving average as prices are right near a 2 month low so continue to play this to the downside as I think prices have topped out as the risk/reward is in your favor, however the chart structure will not improve until next weeks trade so you will have to accept the monetary risk at this time.

TREND: LOWER

CHART STRUCTURE: EXCELLENT

VOLATILITY: AVERAGE

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