What is my plan to regain all my losses?
The plan remains the same for wheat. It is important to take a look at the production conditions in Australia and in the EU. If conditions continue to move in a negative direction watch prices to continue to rise. If prices do rise, then I’ll probably take a short position on wheat and offset when prices drop as speculators offset their own long contracts from the rising prices.
If production seems to improve though resulting in falling prices, I will probably take a closer look on what is going on to gauge which position I should take. If it was a temporary thing then I’d take a long position on wheat to take advantage of the low price and offset when prices rise again.