In the final week of trading for 2010 volume had decreased, as markets would close early on New Year's Eve. Corn and Soybeans started the week on a bullish tone as they were able to make fresh new contract highs on Monday.

Corn had been rising for ten straight days when they finally hit a wave of liquidations on Thursday, which sent prices down on increased volume. The break in prices caused nervous bulls to book profits and bears to wait it out. Liquidation was felt across the board as Soybeans and Wheat also declined throughout the day. All three grains were trading at multi month highs before the snap in prices as bulls cashed out. The shortened trading day on Friday and liquidation the prior day did not seem to affect the bulls, as they rallied the grain complex on the last trading day for 2010. All three grain prices rose throughout the day.

Corn posted a new contract high of 6.30 a bushel into the final minutes of trading. Corn prices have climbed more than 50% for 2010. Soybean prices also spiked higher during the closing bell period allowing prices to settle at 14.03. Soybeans also posted a new contract high. Wheat prices primarily advanced in July/August due to droughts in major Wheat growing regions, but Wheat was able to settle the year at their highest levels as well at 7.9425. The grain complex had a phenomenal year as prices traded at levels not seen in twenty-nine months. Let see what’s in store for 2011. HAPPY NEW YEAR!

To learn more from Pratik and the guys at The Futures Room, visit their site at TheFuturesRoom.com