yes you are, but shorting wheat will be a great learning lesson for you. let us know how it turns out. good luck.
strongly reco hedging bullish futures position with some sort of options play. the appetite for that mw wheat contract is insatiable, but pull-backs can sting. check out where the calendar spreads are trading to gauge upside targets.
Look to get synthetically long with options. You'll pay way above limit, but you'll get in long if you'd like. Alternatively, look at back months, although with the Minneapolis pop today, they're likely limit too.
tonite at 5 you will have ashot to get in electronically wait for a pullback get in run a loose stop and watch your account grow. be very careful though, we will see 12.00 march chi wheat this weak imo
At 6, I believe since all 3 closest month contracts are limit up today, the limit will be expanded to 90 cents per contract, so there is some room over when it opens tonight. Not sure what the contracts are trading at synthetically now through options, but they're probably much higher.
Yes, without fools willing to short a raging bull contract how would we make any money?? Seriously, do you think that the 20K sitting on the bid are there because they want to be? Most are trying to cover earlier short positions. How many days could you stand to have it go limit up against you before you get liquidated? That is the question you should ask yourself before you go short on a limit up day.