Buy wheat and hold it around 1 month. Don't risk over 40 cents and you really don't need to risk that much.
You might be right. I am sometimes too early so another good reason to do %. Wheat might even be making a top here, but some of things I am looking at makes me think different. It really shouldn't get down to $6.92. I did define the risk and sometimes that is the place to buy. I am sure there are plenty of stops under that last low and the way wheat trades that would be about par for the course. Anyway as long as the stop isn't hit, then the trade should be held about 2 months or so not 1 as I stated in my 1st post.
You're stopped out aren't you? Can't say I saw this sell off coming myself, but putting on a position ahead of the month end usda report probably isn't the wisest thing to do.
No big deal. Sort of forget about the report. Farmer cash selling was heavy at 60 to 70 cents higher and most of the time that bunch is wrong. Kind of funny how wheat sold off into the report. I doubt anybody new anything in that report. The good rains also took some dry concerns out of the market. IMO, wheat shouldn't stay at these levels very long if it is going higher and $4.80 corn is too high if wheat is 6.70. Anyway if wheat(Z) closes back over $7 then I will look at the long side.