As we can see on the graph coffee prices have continued to move horizontally.  We are a few days away form a huge Vietnamese harvest and which might probably start pushing prices down again.  Maybe then I can start making some money.  As I still have cash for trading there is no need to sell with a loss.  So i’ll keep on holding.

As on last week wheat prices went up again on Friday giving me a slight gain.  Unfortunately soybeans when down and will probably continue to go down.  Despite the USDA announcement commented last week supplies are believed to be high and everyone is taking about a fall in prices.  I will cover my position first thing on Monday.

This week I want to try something new.  I’ve been following cocoa for the last week and there are some interesting moves in the market.  People are expecting shortages and low quality due to weather in Africa.  Most farmers do not have adequate storage so product is easily damaged.

The trend is prices will continue to go up but I believe there is a point where the market will exaggerate this and some profits can be made by shorting quick, in a matter of a few hours.  I will try to do some technical analysis during the week to make a better based decision.