What I went right?
For this week, based on my last week’s analysis. The tight wheat stocks of major exports and the negative prospect of corn will lead to a higher price. Therefore I chose long positions on future contact of wheat and corn. At first I got the knowledge that soybean productions will raise. However, I got some feedbacks of my blog from Vicky and Araza. They suggested me to do some other researches such as exchange rates and acknowledged me that China as one of biggest exporter of soybeans will increase its imports. Therefore I changed my choice. The depreciation of US currency would encourage other countries to import more crops, which create more demand. Therefore I bought a 2014 July contract on soybeans. Here are my trading information and daily price change of crops.
|
Contract |
Quantity |
Position |
Price-in |
|
C5N |
1 |
LONG |
622.00 |
|
W4N |
2 |
LONG |
834.75 |
|
S4N |
2 |
LONG |
1343.5 |
Daily Price Change
|
Contract Date |
C5N (Price-in) 622.00 |
W4N (Price-in) 834.75 |
S4N (Price-in) 1343.5 |
Position LONG |
|
Beginning balance from 10-29-2012, Position Value: $1042.50 Cash Available: $41638.85 Equity: $42681.35 Realized Gains: $2717.50 |
||||
|
Oct. 30, 2012 |
621.75 |
834.75 |
1343.5 |
Long |
|
Oct. 31, 2012 |
620.25 |
840.50 |
1356.5 |
Long |
|
Nov.01, 2012 |
Offset all contracts Price out |
|||
|
621.75 |
840.25 |
1361.75 |
||
|
Ending balance as of 11-01-2012, Position Value: $0.00 Cash Available: $45076.99 Equity: $45076.99 Realized Gains: $5075.00 |
||||
Great job on analysis.
Thanks for you comment. I update my blog, please check that. I tried to use some technical analysis. I think my analysis is not so deep, but I tried.