Sean Pledger

I’m anticipating a bounce in both soy and wheat. I expect soy will be a longer, slower bounce but I will possibly be offsetting my long wheat in the next few days. My long positions on January soy have in-prices of 1457 and somewhere around 1410 (we’ll see what tradesim decides). I don’t expect soy to make it back to 1457 this week but perhaps by the end of the semester I’ll have made back my losses from this weekend, plus turned a healthy profit on the 1410 long positions. As for wheat, I’ll be looking to see prices around 870 or 880 before I offset. That could be this week, it could be next but if the price keeps dropping much below 840 I will be very surprised.