Date In | Date Out | Initial Position | Offset Position | Price in | Price out | Gain/Loss | ||
*Oct 23 | Nov 06 | Short
(W2Z) |
Long | $865 | $874.25 | -$463.50 | ||
*Oct 23 | Nov 06 | Short
(W3H) |
Long | $874.50 | $890.50 | -$801 | ||
Nov 06 | Nov 09 | Long
(W2Z) |
Short | $874.25 | $902 | $1386.50*3 =4159.5 | ||
Nov 06 | Nov 09 | Long
(W3H) |
Short | $890.50 | $901.50 | $549*3
=1647 |
||
Nov 06 | Nov 09 | Long
(C2Z) |
Short | $741 | $752.50 | $574 | ||
Nov 06 | Nov 09 | Long
(C3H) |
Short | $741 | $754.25 | $661.50 | ||
Nov 06 | Long
(S2X) |
$1519 | ||||||
Npvp6 | Long
(S3F) |
$1514 | ||||||
Many things have happened this week; 6 longs of wheat, 2 longs of corn and 2 longs of soybean. This week was the first time I got more than 2 contracts of each grain and took positions of all 3 grains. I achieved huge gains from wheat and corn but have been losing a lot from soybean. I expected that USDA crop report would result in a rally in the market of 3 grains due to low supplies from the drought. Corn future was a bit higher but wheat and soybean future declined on the day of the USDA report. Soybean future prices dropped sharply. USDA crop report showed that tight supplies of corn and forecasts of high supplies of wheat and soybean. However, I earned money from 6 wheat long positions because wheat future increased before the report and I went the market at the cheaper price. Big gains were also achieved from higher corn futures. Huge decline in soybean futures offset gains from corn and wheat, so my equity isn’t high. As I forecast bullish soybean market the following week, I still have soybean to offset next week.
Hi, Cindy, I also get huge profit from wheat long contract. Actually last week I lost on the long wheat contract. I thought to offset it but I think I could trust the market for a week and think that it’s only one contract.. It would not make me bankrupt even though I lost..Then this week I got big profit from this long wheat.
I’m just confused about the price trend of soybean. I agreed with you that the price would go up…But it seems not so persuasive using technical analysis? It seems lower the support level but still shows downward..