After suffering the big loss from the last ten days, the best road I can think of is the road with sustainability. I’m not going to submit any market order next week. Instead, I decide to try limit order, which, I think,is less risky.
Next week, I will still focus on corn and soybeans markets.My general judgement on prices of these two crops is that both of them will go up.The US’s soybean harvest was 80% complete as of early this week, according to the USDA.①And corn harvest is close to its end.So the supply has basically been locked tight. Meanwhile, I saw the a piece of news with the title says that “Top exporters’ grain stocks to fall to 17-year low”②,which gives the corn price the upward potential.But the price of soybeans still depends on the weather in South American. Last but not least, I can see from the daily price charts that it is time for corn and soybeans to jump a little,expecially for corn,for corn has been moving up and down at a relatively low level for quite a long time.It should be the time for corn to shoot up.
All in all, I believe corn price will go up.I also expect soybeans do so,but not for sure. So, I’ll take strategy below:
1. Keep holding 5 longs on corn(C2Z)
2. 5 sell price-limit on corn(C2Z) at 760
3. 5 sell price-limit on soybeans(S3F) at 1580
4. 5 buy price-limit on soybeans(S3F) at 1540
Let’s see what is going to happen.
Reference:
②http://www.agrimoney.com/news/top-exporters-grain-stocks-to-fall-to-17-year-low–5147.html