This week, my equity is $38360.88. I earned $2400 for the four long contracts of wheat (gain $600 each). So, what went right?

I went long on wheat two weeks ago and I’m glad to find out that the price of wheat went up. There are many reasons for that. I think the most important one is that the harvest of wheat is coming to an end. As time goes by, it is obvious that the price of wheat will go up.

There is some new information about wheat last week. Board of Trade wheat futures rose 1.6 percent to their highest level in more than three weeks on Wednesday on hopes that Ukraine’s export ban would raise demand for US supplies on the world market. Ukraine’s Agriculture Minister said the country would ban wheat exports from Nov. 15 following a weather-damaged harvest. Then, the price of wheat will go up and speculators will buy more. The future price of wheat will go up. Besides, Syria’s General Establishment for Cereal Processing and Trade said it was seeking 100,000 tonnes of soft wheat of bread-making quality in an international tender. With the rising demand of wheat all over the world for last week, it is clearly that wheat will be more expensive.