Weekly trading –

I started off thinking I needed to offset my 5 short contracts with Corn into a more conservative amount to 2 short contracts; therefore I would be offsetting 3 long contracts. I did this at a price of 651 this was an alright estimate as it was higher then the daily low. I looked at the range between low and high daily’s and it seemed to be getting more narrow hence my strategy to move 1% off the daily low. Overall for the week I made a good move by offsetting my short contracts at such a low price and I am now in a more stable position for next week. Corn this week only showed 1 read significant day where there was a minor drop in the price overall it finished at 651 a rather monotonous week for movement.

Soybeans I thought I would be moving down, I went short, and made some progress until the weeks end when the price rebounded back.

I made the same move for Wheat, short contracts this worked all week for me until the Friday rebound.

This week it looks as if the MACD lines will cross, this could issue a buying signal like in late August. The EU leaders met this week and have moved closer to securing a plan to help ease the European debt crisis, this Euro Deal could be encouraging news could have caused some positive re-enforcements in the market prices. I think I am starting to change my mind on the short contracts for the future… if speculators are taking more long contracts, this as we know will lower future prices and increase today prices. I am going to start off the week with a total over haul and move into long contacts for the next week for corn and wheat.

I still think that soybeans could drop lower in the market.

More to come