A jump in wheat
My spread position this week didn’t see much action, since any difference between contracts was hugely overshadowed by Wednesday’s surge in prices due to Ukraine’s announcement they would stop exports in November. [1] In keeping with longer-term trends, wheat prices ended slightly lower than at the beginning of the week, meaning my combination of long and short positions ended without seeing any major shocks. (Hooray!) While this means I didn’t have any great revelations about my short position, it does mean my last couple of weeks of losing money fast slowed down.
Below is the graph of my contracts from the beginning of term, showing my slowly growing confidence in a long term short wheat contract.
[1] http://www.forexpros.com/news/commodities-news/grain-futures—weekly-outlook:-october-29—november-2-239990
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