if AG's are at limit up or limit down...does that mean trade is halted or you can only trade at that limit up or limit down price?
increasenow: You can trade at the limit price if other traders wish to trade with you. Trade is not halted, however price cannot move beyond the daily limit range posted by the exchange. So, if corn is trading or 'locked' at limit up, then you will be able to sell easily due to the large pool of bids in the market. Obviously, you will have a much more difficult time buying when prices are trading or 'locked' at limit up.
You need to check the rules of the market thats locked limit. Some markets close trading of these contracts when the limit up is reached; others allow trading either at the limit price or resume trading if the price moves away from the day's limit.
you could also look at hogs and cattle. To me they are more understandable for a newbie than the the others because they are more NA based so you dont have overnight worry as much as the others.that is changing of course with asia. also read up on trading spreads.good luck!
yea, I just think with the amount of market participants trading the grains relative to those trading ES for example, and the likelihood of leaks with respect to these reports, not everything can be priced in in the grains. The fact that grain prices are a reflection of very localized, sometimes guarded data on crop health and weather, allows some to be very in the know, and others to have no idea. I also think it's curious that the grains are up in the overnight every time we have a bullish USDA report. Put me in the camp that thinks fundamentals are more important than the TA in grains...
Thanks for the clarification. Perhaps the reason why ES is considered more efficient (although I tend to think it's more effed up than efficient these days) than grains is that it is actually the tail. The real dog are the component stocks that make up S&P 500.