A very depressing week for me.

Even though it was only 3 days, it felt like a really long week….Personally, I felt like everything was raining down on me this past week…I think it was the assignment and cases, and the stress from thinking about the midterms for next week. I’m really nervous about the midterms….especially Jim’s….

Anyway, sorry, a little late in blogging this week. I have to admit that I haven’t been as engaged and focus on bidding compared to the first few weeks, again, just too much to do so I didn’t really have time to do research and bid.

This week made me realized how lost I was without having the expert blogs in helping me decide what to bid on. It was like a lost of direction, and it was a lot of work to research on every aspect by myself. So this week, I only focused on supply and demand (again).

Open position from last week:
Short/soybean/1
Long/corn/1

Soybean: looked at supply. News on Oct. 10 stated that soybean yield in 2011 has been quite disappointing. The harvest season for soybean is almost over, but yields have been below average, especially in the U.S. due to the heavy rains during June, and some areas have started the planting season late; hence, the soybean supply isn’t very optimistic. So I decided to offset my short contract in soybean.

Corn: I decided to keep my long position in corn. At the beginning of the week, I read that the USDA reported a fairly optimistic progress for corn, but commodity specialist say that the USDA might have been exaggerating the number as corn yield is not has high as it has been stated, also, corn harvest has slowed down to poor harvest. Then in the middle of the week, big news was released stating that China has confirmed their large order or corn, so I assumed that corn futures prices will keep going up. However, near the end of the week, it was also reported that private exporters have increased their exports and U.S has cut exports, so I wonder what will happen to corn prices next week.

Wheat: Simply based my bidding strategy on the news about record high wheat production and high ending stocks, even though wheat exports are up as well. Also, Wheat prices made a huge jump on Tuesday, and I predicted that the prices will make a huge dive again on Wednesday, so I decided to bid short for Wednesday. My prediction was right and so I made 1700 from wheat. I was worried that it might fluctuate again, but I held firm my stance and stayed in short

This week I made 2000 from my long corn contract, and 1900 from my short wheat contract.

My current margin balance is $42,135.

As of the end of this week, I currently hold 1 long corn contract and 1 short wheat contract.

The coming 2 weeks will be super busy I feel, but hopefully I will be able to put a little bit more time into the game in the coming weeks.

Have a nice weekend everyone!

The exhausted Caroline