In the coming week, I will mainly use two tools to help myself make decision . One, still, is the market analysis. I feel safer to depend on market analysis,especially price-limit, to give orders when the prices are quite volatile and the market seems not to have a obvious trend in the short term. The other is the USDA reports:
As you can see, the lastest US export data will be published on next Thursday.And one day later, there will be much more new information for market to digest,including two big market movers, Wasde and World Agricultural Production report.
I still hold the point that every first half month is the key to the entire month, because the “key”, the most influtial reports, is given during this period. Don’t believe anyone.Using your own brain to analyze the reports is always better.
So, my strategy for the next week:
1. Five contracts of buy-limit on corn(C2Z) at 732
2. Five contracts of buy-limit on soybeans(S3F) at 1505
3. Ten contracts of buy-limit on soybeans(S3F) at 1490
4. Get up early on Wedesday and Thurday morning to check the newly released reports.
Good luck to myself!
Hi Mike! This is Cindy.
Glad to know that you gained lots of money this week again!
Your plan for the following week seems so perfect and i will also keep an eye on USDA’s new crop estimation report. But I’d like to know the reason why you expect that the corn and soybean future prices will increase the following week. Is it because of the severe wheather conditions? Or because of low export supplies from other countries? I think it would be better if you explain in more detail. Good luck in your trading and see you tomorrow! 🙂
Hey Cindy! Sorry for replying late. In fact, I was not so sure whether the price would increase or not. That was why I set sell-limit and buy-limit at the same time.
Thanks for your recommendation.I’ll make myself more clear next time!
Good luck, Mike! I’m holding onto my positions for soybeans in January and corn in march. Not sure if I should switch to long for today though.. the market is always so volatile. Hope you made the right decision!
haha~ You can make it! Good luck Vicki!
Hi Mike, good job! Are you going to trade wheat in the future? I have some information to you.
As we know, as the harvest of wheat is coming to an end, the trend of wheat price is increasing. However, there are still some news can affect the price of wheat in short run. I believe the price will go up in long run, but may be affected by other news in short run.
First of all, price of corn fell last week, pressured by the drop in soybeans, while wheat was up slightly, but well below its daily highs due to a round of profit taking. Concerns about tightening global supplies due to adverse weather conditions in key growing areas supported wheat. Wheat fell 4.2 percent in October, its biggest monthly decline since November 2011, which has sparked some bargain buying on dips in recent days. Based on the information above, I believe the price of wheat will go up soon.
Another news about wheat is that In its October World Agricultural Supply and Demand Estimates, USDA increased the estimated feeding of wheat during the current 2012/13 wheat crop year by 95 million bushels to 315 million bushels. USDA currently projects that the feeding of wheat will account for 12.7% of total projected use of U.S. wheat during the 2012 wheat crop year. This exceeds the average share of 9.1% and is the highest share since the 2000 wheat crop year. The increasing demand of wheat will certainly rise the price of wheat. It is obvious that the price of wheat will go up in long run.
Anyway, good luck! Hope you can earn a lot this week!
Thanks for sharing the information,Peter! It’s very helpful! I’ll try wheat in the rest of the term~