For the seasonal harvest pressure, I think corn’s price will fall even though there is a drought in USA. Also, good harvesting weather is expected this week in the northern US Midwest while showers will slow harvesting in the south, we can get that the overall harvest trend is good. Therefore, I chose a short corn contract (C2Z) in this week, hoping corn’s price will be decreasing. In fact, in the first, corn’s price moving in the same direction as I predicted.
I thought the price of wheat will continue to fall, unfortunately the price is increasing in the next day. I do not know what happened? At last I lost money in this contract. Then I searched the Internet to get some answers about this result, I know that US corn and wheat stockpiles shrank far more this summer than grain markets thought, and corn prices zoomed higher on prospects that heavy demand and drought-decimated crops will keep makets tight. The supply is less than the demand, so the price is increasing.
I also chose a short soybean contract (S2X) in this week. I searched for the CME GROUP website to get the chart, I think soybean’s price is high enough, I predict that it will be a trend of decline.（chart：http://www.cmegroup.com/popup/mdq2.html?code=ZSX2&title=November_2012_Soybean&type=p）
n addition, the harvest just started , the supply of soybeans in this week will be more, it leads to lower price than before. Therefore, I chose a short contract about soybean. At last, I still lost money.
Date in Contract Position Price in Gain/Loss
2012-09-26 Market short 727.75 -1425
2012-09-28 Market Short 1577 -1200
Reference：
http://www.cmegroup.com/popup/mdq2.html?code=ZSX2&title=November_2012_Soybean&type=p
Hi Jessica,
To be clear, the gain/loss was as of September 28? I can see the price of your contract got through. If you put the actual date, it will help me understanding your current position better. And in case you have problem understanding the daily report from TradeSim, please let me know. I’d be happy to help. Thanks.
Hi Yijeong，
Thank you for your reply.
This is my ending balance as of 09-28-2012,
Position Value: $3780.00
Cash Available: $32242.80
Equity: $36022.80
Realized Gains: $-1352.00
Before I misunderstood some part of this system， now I think I can do it. Thank you for your kind remind~~~Have a nice long weekend~~~
Sincerely，
Jessica Cai
Thanks for the reply