{"id":74,"date":"2012-09-30T10:07:51","date_gmt":"2012-09-30T17:07:51","guid":{"rendered":"https:\/\/blogs.ubc.ca\/rosonluo\/?p=74"},"modified":"2012-09-30T10:07:51","modified_gmt":"2012-09-30T17:07:51","slug":"the-road-ahead-with-3-crops","status":"publish","type":"post","link":"https:\/\/blogs.ubc.ca\/rosonluo\/2012\/09\/30\/the-road-ahead-with-3-crops\/","title":{"rendered":"The Road Ahead with 3 crops"},"content":{"rendered":"<p>I knew that wheat and corn futures prices fell quite a bit last week before Friday. \u00a0I was planning to went in the wheat or corn futures market and take a long position at their low prices. \u00a0After I decided to do that and before I manage to do so, the corn and wheat futures prices already jumped a sky high on Friday morning. \u00a0I started to doubt whether I should still go in the market and what position I should take. I remember there were news about some kinda of report to be released on Friday, but I wasn&#8217;t sure what it was about. \u00a0Thanks to fellow student, classmate Ishrat&#8217;s tweet (@ishrat_gadhok)<a href=\"#ref\"><sup>[1]<\/sup><\/a>, \u00a0I found out that USDA released the quarterly Grain Stocks report about the stocks of corn, wheat, soybeans having gone down<a href=\"#ref\"><sup>[2]<\/sup><\/a>. \u00a0The futures prices of corn, wheat, soybeans all went up at the result of that, expecting shrinking supplies of all 3 crops.<\/p>\n<p>I expect the soybeans futures prices to go higher so I have placed orders to offset my short contract and go long. \u00a0I also ordered to offset my long contract because its price now is still lower than my price in when I purchased my contract last week. \u00a0I placed a long contract again to get in at a lower price hoping to make a bigger profit when the price indeed goes up. \u00a0Soybeans can be\u00a0substitute\u00a0to corn. Since corn futures prices have already gone high up and soybeans haven&#8217;t yet, there should be more room for the soybeans futures prices to rise.<\/p>\n<p>I expect the corn and wheat futures prices to continue to go up but I am not sure how long that will sustain. \u00a0I will go ahead with a long position in both of corn and wheat futures and\u00a0\u00a0pay close attention to the news closely.<\/p>\n<p>&nbsp;<\/p>\n<p><a name=\"ref\">References:<\/a><\/p>\n<p>1.\u00a0@ishrat_gadhok. (2012, Sept. 28). Tweeter. Retrieved from\u00a0<a href=\"https:\/\/twitter.com\/ishrat_gadhok\">https:\/\/twitter.com\/ishrat_gadhok<\/a><\/p>\n<p>2. USDA. (2012, Sept. 28). <em>Grain Stocks<\/em>. Retrieved from\u00a0<a href=\"http:\/\/usda01.library.cornell.edu\/usda\/current\/GraiStoc\/GraiStoc-09-28-2012.txt\">http:\/\/usda01.library.cornell.edu\/usda\/current\/GraiStoc\/GraiStoc-09-28-2012.txt<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I knew that wheat and corn futures prices fell quite a bit last week before Friday. \u00a0I was planning to went in the wheat or corn futures market and take a long position at their low prices. \u00a0After I decided to do that and before I manage to do so, the corn and wheat futures [&hellip;]<\/p>\n","protected":false},"author":14442,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[568640,593792],"tags":[],"class_list":["post-74","post","type-post","status-publish","format-standard","hentry","category-the-road-ahead","category-trading-game"],"_links":{"self":[{"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/posts\/74","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/users\/14442"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/comments?post=74"}],"version-history":[{"count":2,"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/posts\/74\/revisions"}],"predecessor-version":[{"id":76,"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/posts\/74\/revisions\/76"}],"wp:attachment":[{"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/media?parent=74"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/categories?post=74"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/tags?post=74"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}