Talk about some big moves, wow. I was home yesterday and did some scalping on ZS, but I am missing it today.
What a day ! Western europe is dry so everyone is getting excited, however stocks are still there and Black sea has a nice weather... @TraDaToR Dont take your holiday in July, thats the bullish month ! Wheat and barey filling take place in end of june/july !
Yesterday, 47 millions tons traded in CBOT wheat = US wheat production ! Funds, bulls and trend follower are back on weather market. Buyers withdrew from cash markets.. Who' gonna with this battle ?
I am in the wheat butterfly, -dec/mar/-may, it has dropped more on this spike, hoping once it calms down the fly will normalize a bit and move up some. Just saw this article about India. Based on this it looks like they are trying to make it more difficult to import wheat since it is cheaper than what they are going to sell their stock for. http://timesofindia.indiatimes.com/...tonnes-of-poor-wheat/articleshow/47857533.cms
Out @ 1.5. I am really frustrated by this one. I am currently in vacation in Denmark and didn't take the time to read the hogs and pigs articles. Otherwise I would have exited on monday...Still a positive trade but I lost a good chunk of it today...
The acreage report came out today. I think the primary concern is that all the rain is going to cause issues with production.