Wheat Turns to the Dowside and Closes 'Limit Down'

Filed under: Rumors, Market Matters, Politics, Commodities

You don't often see these moves in commodities, but when they happen, look out below. Two days ago, September wheat closed "limit up" -- 60 cents. That means that the market stopped trading. You could not enter a buy order.

On Friday, just the opposite happened. Wheat fell the daily limit of 60 cents. September wheat closed at $7.25 3/4 per bushel. A "limit down" move means that the market stops trading. At that point you cannot enter a sell order and are locked in. On Monday, if the market opens lower but not limit down, you can sell out but at a big loss.

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Wheat Turns to the Dowside and Closes 'Limit Down' originally appeared on BloggingStocks on Sat, 07 Aug 2010 11:40:00 EST. Please see our terms for use of feeds.

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Wheat - BloggingStocks - Agriculture - Bushel - Commodity

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