This week, my equity is $41557.20. I earned 3197 dollars last week. I offset my long contract because I want to “put” the money into my pocket. So, what went right? Well, I believe there are three major reasons that kept the price up last week.

First of all, Hurricane Sandy attacked the east coast of America last week. As we know, Sandy is a very severe disaster that caused severe floods in many cities. The Hurricane affected the transportation of wheat and it reduced the harvest of crop. There were more wheat needed and the transport of wheat is inconvenient.

Secondly, even with recent weather disruptions, U.S. farmers still made harvest progress this week. According to this week’s USDA Crop Progress and Condition Ratings, of the 18 key corn-growing states, only Michigan, Ohio and Pennsylvania have not reach 70% complete. South Dakota has reached the finish line in corn harvest, an impressive feat since normally they only have 47% harvested by this point in the season. As harvest is coming to an end , the price of crop will increase as time goes by.

Thirdly, a Libyan state grain buying agency tendered to buy 30,000 tonnes of milling wheat, 15,000 tonnes of corn and 10,000 tonnes of barley for delivery in November, European traders said. The bidding deadline is Nov. 6. The demand is rising so the price will rise too. Russia’s 2012 wheat crop will be just over 37 million tonnes, lagging official estimates by 6 percent, analysts said. The supply is decreasing so it will also increase the price.