Sean Pledger

My main focus this week will be exiting the soy market. I’ve been betting mostly on longer term trends and now that corn and soy appear to have found equilibrium ranges (at least temporarily) I’ve decided now is the time to get out of any long term positions. I’m currently short 2 March contracts in at 1520.75 and 4 January contracts in at 1560. My expectations are that January could drop back down to the 1530 range, but if I can make 10 to 20 cents a bushel I’ll happily offset. Similarly with March contracts I expect we’ll see prices around 1500 again before too long at which point I’ll happily take a 20 cent gain.  Once I’m totally clear of all these markets I’ll look to play around with some price triggers and make some quicker money off of daily volatility, but I’ll cross that bridge when I come to it.