Grains Journal

I began scaling in short March Wheat today. I have started with a very small position and am looking to add at higher levels. Much the same as I did with the S and P earlier this past spring.

 

I made my decision today and closed the July Bean Long trade today MOC at 6.87 3/4. I did not short. I will watch the market for a new place to get long.

 

I will add short July Wheat on a break of the Dec 11 low of 474.5.

 

Still looking at a breach of this area as a place to add short July Wheat.

 

I have added short July wheat today at 4.72 1/2 as we broke the Dec 11 low yesterday late.

 

Impressive entry into July wheat short position b1s2.

Do you a time/price target for this trade ?

 

No. I am just watching the daily and weekly reaction highs here. I will not be afraid to let the trade go negative as long as we don't break those highs.

 

b1s2. do you know what is happening with AGs ? Why are they spiking in this manner ?

 

WASDE came out today (and every month about this time).

HUGELY bullish for Corn with a lot of drag-along effect. Wheat is something of a mystery, their fundamentals are looking pretty bearish (quite a bit more ending stocks than expected). I'm guessing the runup there is Corn drag-along.

 

Here's a good way to get in if you're stuck out of limit up: DBA etf. 25% corn, 25% wheat, 25% soy, and 25% sugar futures... likely the fund is unleveraged, so prepare to buy a lot if you like leverage.