WTF is up with wheat on IB?

Discussion in 'Commodity Futures' started by lachie74, Oct 4, 2007.

  1. Need some help with the YW wheat contract trading on TWS with IB.

    Dunno if this is noobish or not but I can't get out of my long position on eCBOT YW contract.

    Bid Size and Bid Price fields are empty, If I try and place a short market order I get an error message saying "Invalid Order"

    Why is it so difficult to get in and out of Wheat trades? Is there just no liquidity at all? I find that hard to believe
    Am I doing something wrong? Or does IB suck?

    Thanks for any help.
  2. pkts


    Umm dude....the YW only trades after hours. Plus its thin as hell. You should really only trade the full contract.

    zw has 27K in volume currently
  3. So I'm basically stuck in this position? Damn.. It won't even let me put a stop order in..

    I'm a noob to Ag Futures, will be more careful in future.

    Thanks for info..
  4. pkts


    Yeah, you're stuck until after hours. We've all been there. Its a good idea to check the daily volume and trading hours before you open a position.

    Interactive brokers has a good search on their front page (Help...Contract Search) that allows you to see what the trading hours are. You would write in corn and then futures under category.

    Good luck.
  5. YW is symbol for both CBOT(daytime) and ECBOT(nighttime) mini wheat contracts. Fungible but illiquid, esp ECBOT. Don't know why there isn't a market particularly now with wheat near all time highs. CBOT must not want to support the mini ags. Too bad for the small farmers; they cater only to the big boys.

    The Mid Am used to be the place for minis. I think the volume was much higher then. Looks like CBOT took over and squashed it.