Market Overview

Why The Eagle Bay Capital Founder Likes Wheat Futures Right Now

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JC Parets is a weekly guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.

Eagle Bay Capital Founder JC Parets said he liked wheat futures at the current levels.

Parets suggested the Teucrium Wheat Fund (NYSE: WEAT) as a way to gain exposure to the market other than directly trading futures contracts or options on futures.

Key Fibonacci levels were reached on the downside in the market, according to Parets’ analysis, while commercial hedgers and smart money were “loading the boat on wheat.”

Parets anticipated a “decent squeeze” with the potential for the market to move significantly higher in the short term.

Further discussion of wheat futures is available on StockTwits.

Teucrium Wheat Fund recently traded at $10.09, down 1.08 percent.

Listen to the show here:

 

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