The grain markets took a breather on Tuesday as traders searched for fresh information. “The markets are sensitive right now, looking for information to justify them going higher, because we are at very lofty levels,” says Kristi Van Ahn, market analyst, Van Ahn and Company. “It will be intriguing to see what happens to the wheat complex, but I do think wheat will be an indicator of whether or not we can see corn and soybeans hold on.” Soybeans have been stuck in a tight trading range similar to the corn market. “They’ve found a narrow range. That $12.45 level seems to be stiff resistance level for November and looking ahead to January, the levels are at $12.55 causing resistance points. If we get above $12.80, I think we could see a similar situation that we saw with corn, but it may need help.”
