All Grains Limit Up Toady

Discussion in 'Commodity Futures' started by Shagi, Oct 8, 2010.

  1. Shagi


    and the why hell does CME close trading during important reports - giving in to ancient floor traders heh?
  2. Corn, Soy, Wheat Prices Surge as U.S. Cuts Supply Outlook
    October 08, 2010, 11:21 AM EDT

    Oct. 8 (Bloomberg) -- Grain and oilseed prices rose the most allowed by the Chicago Board of Trade after the U.S. government said doemstic and world supplies of corn, soybeans and wheat will be smaller than forecast last month.

    the world is quickly running out of food....
  3. LEAPup


    The World is slowly running out of the people wanting to take the risk, and produce the crops...
  4. 1) You can trade "synthetically" via the options. Yes, it is slightly annoying and more expensive.
    2) I haven't looked but there may be "spot" October contracts listed that would probably trade with no price limit. :cool:
  5. were you guys on the right side?

    i.e. did you make a killing or get killed?

    How did you make your decision?

    I am on the right side for most grains but got killed in cotton...
  6. heech


    I got slaughtered in grains, and did okay in cotton. Ironic.

    Does anyone have suggestions on a service (for pay is fine) which would alert me in advance of "pivotal" reports? For my strategy, I don't mind paying in advance to hedge properly.

    I have a calendar of course. But in this case... I honestly didn't realize the report today was considered that significant. I thought the end of quarter report (last week) was the main mover. Now I read some analyst papers from yesterday, and they of course point out today's report is considered "pivotal". I'd like a week's prior notice of the reports considered "pivotal".

    Any resources out there I should look at?
  7. when will grain futures reopen after today's limit up? on Sunday?

    i have a friend who got stuck short in oats. :(
  8. heech


    Sunday 7 PM EST.
  9. Picaso


  10. heech


    Well, great. So more reason to be a bull on Monday.

    Anyone without access to the pit floor today is just... hurting. (Well, even more hurting. I'm down -15% on the day.. but at least I managed to flatten most (not all) of my exposure.)

    You could buy the futures at any point through synthetics. (Although I was surprised CME pit guys use a deep ITM call rather than a true arb-equivalent long call/short put... which is what I've always seen before.)
    #10     Oct 8, 2010