Well, after trading for three weeks the soybeans I decided to close my spread order (one short and one long) position on Thursday because it is expected that the price would go down due to a decrease of export expectations. USDA said, “China cancelled two cargoes of corn last week and 173,000 tonnes of soybeans previously earmarked for China were switched to Taiwan and Thailand”.

Even though, I was spread that means I was indifferent because in either price movements I could avoid losses, I was hoping to make some profits on a Short position. Thus, I ended up with this result,

Closed Contracts

Overall, the price went down after its climb because of fear that the demand for soybeans would go down because the sales did not meet the expectation. Even though the soybean futures had upward trend in the beginning of week due to a higher trade, on Friday it was closed with downward trend since it is announced by the USDA in its weekly export sales that soybean sales were expected to be at 522,200 down from the previous forecast of 650,000 to 850,000 tonnes.

the data was taken from the website “http://farmfutures.com/story.aspx?s=64403&c=0“

In the light of these events, my equity balance at the end of week was “$35661.27”