The grains look good at the moment. The best way to trade the grains (corn, wheat and soybeans) is through the ETN symbol (JJG) US$ 29.85, iPath Bloomberg Grains sub- index (attachment 1). The largest component is corn followed by soybeans and wheat.
After forming a base since last fall, JJG broke out yesterday on the upside, led by soybeans. The MACD is rising. The weekly chart shows the bottom with EMA (exponental moving average), which gives more weight on the latest data, just about crossing for the first time since last summer the blue line (attachment 2, lower scale).
Attachment 3 shows the great breakout on the upside yesterday. These products have to be traded to take advantage of swings.
No comments:
Post a Comment
Commented on
The Pangea Advisors Blog
Pangea on Twitter