Sean Pledger

The past 2 weeks have been pretty slow on the trading front. Roughly a week and a half ago I offset my 2 wheat shorts. Going in at 890 and offsetting at 845 netted me a profit of nearly $5000. At the time it may have been wise to offset my corn and soy as well but I held all those shorts until yesterday when I offset the corn. After the USDA report release 3 weeks back I expected both corn and soy to continue back on their long term downward trends. Unfortunately it appeared that both have found new equilibrium ranges. I’ve been watching both bounce up and down for the last couple weeks until yesterday when it appeared Corn was at it’s low point (and soy at it’s high). Taking advantage of what appeared to be my best opportunity to get out of corn I offset my 6 December contracts at a price of 738.75. Of the 6 short contracts one was in at 745.5, two at 756.25, and three at 770.5. My net gain from these transactions came to a total of $7169. On top of these transactions I also picked up 4 additional shorts on January Soy with the expectation that those prices will continue to bounce around their equilibrium range set over the last couple weeks.