Blogging was temporarily paused last week due to the preparation of midterm. So, I am back again.<\/p>\n
The most significant episode during the past two weeks was the time when the USDA released the crop production report on the 11th<\/sup> of Oct. I woke up seven plus in the morning (9am in Chicago) to check the crop supply forecast. It stated that the corn yield forecast stands at 10.7 billion bushels, which is slightly lower than the September prediction and 13 percent down from 2011. The estimate depicted the lowest production in the US since 2006. In addition, USDA predicted that the US corn inventory was 619m bushels, which is the lowest in 17 years. However, the USDA refrained from making further cuts for the prediction of the domestic consumption of corn.<\/p>\n http:\/\/usda01.library.cornell.edu\/usda\/current\/CropProd\/CropProd-10-11-2012.pdf<\/a><\/p>\n http:\/\/www.agrimoney.com\/news\/grain-prices-rise-after-us-says-stocks-to-stay-low–5092.html<\/a><\/p>\n These changes in supply and demand of corn suggest that the price of corn was going to shoot up. Hence, the corn price almost underwent a \u2018limit-up\u2019; the opening price was 736.50 cents per bushel and the closing price was 773.2 cents per bushel (the increase was 36.7 cents per bushel or 4.9%).<\/p>\n I bought a few contracts of corn right when I saw the news. However, due to the lag of TradeSim, my orders were not validated till a few hours later. Thus, I did not make much money. BOooo…~<\/p>\n","protected":false},"excerpt":{"rendered":" Blogging was temporarily paused last week due to the preparation of midterm. So, I am back again. The most significant episode during the past two weeks was the time when the USDA released the crop production report on the 11th of Oct. I woke up seven plus in the morning (9am in Chicago) to check … Continue reading