http://www.agrimoney.com/news/us-winter-wheat-makes-worst-start-on-record–5165.html

“US winter wheat makes worst start on record”

This news is very useful I think. As the title says, winter wheat meets the worst start. According to the news, it says that because of “century drought”, “poor stands and wind damage”, and “better for soft red winter”. Thus we could make some predicts that price of wheat may show a upward trend because of lower supply. And the exporter may set some barriers when trade in the world.

http://www.agrimoney.com/news/wheat-prices-rise-despite-russia-victory-in-tender–5163.html

“Wheat prices rise despite Russia victory in tender”

This news shows respond to the first one, and my prediction. There’s some more information in news. Such as, “Egypt is the top importer of wheat”, and “the shipments took the EU total so far in 2012-13 past 5m tones, and nearly 300,000 tonnes above the level a year ago”.

Almost forget the blog entries this week. Fortunately I remembered it.

The right thing:

I would think I did two things right last week. The first thing is keep spread in soybean. I thing the price for soybean in the future will narrow. And the price data of soybean shows more stable, compared with wheat and corn.

And I would think the second thing I did for the past week is that I offset my positions in wheat and corn on Tuesday, the day after Sandy came in NewYork. Because I think the Sandy would make the market fluctuate and unpredictable. Wheat and corn are complicated in world market, such as Thai’s policy, Ukraine export policy, the influence of Sandy and complicated weather in China. China is one of the largest demand in the world. And recently it shows different weather in Southern and Northern part, according to the previous observation. I’m confusing about the market trend thus I choose to stay in soybean. Because soybean would not be influenced immediately.

The wrong thing

I didn’t buy or sell any new contract last week, just hold the contract I have two weeks ago. I thought that I could not handle the effects of Sandy. But then I lost some chances to make money from short position. And when the report comes on Friday, I could not find the respond point in trade exercise.

But I felt confused when the contract would finish pending after I click it. Sometimes I saw they show at the same day but sometimes tomorrow..