Sean Pledger

In preparation for Fridays USDA Supply and Demand estimates I place positions and price triggers on corn, wheat and soybeans. This time around the glitches in TradeSim seemed more random than usual. My corn transaction didn’t work at all. I placed my sell contracts and price limits to capture some quick gains (or abruptly limit losses) but as soon as my short positions were established they were offset at the same price netting me zero profits.

My Short positions on Wheat did something similarly bizarre but slightly more profitable. My intention was to sell at around 900 and buy at 848. Before the report release I placed my market order to sell at roughly 900 and had price limits to offset at 848 and 920. The market never hit 920 and only today (Tuesday) did it drop below 850, yet somehow my transaction ended up being sell at 916.5 and buy at 902. I made some money off this but I have no idea how the program came up with these transactions. Anyways, now that I feel wheat is near its short term low I’ve taken a long position.

Soybeans have cost me this week. I read several articles, all from people I’ve believed before, all indicating soy was going to rise. Although I’ve taken a hit on my 2 long positions I’m holding onto them and I’ve taken a couple more. The first 2 were long at 1457, the next ones were at 1410. If the analysts are correct in saying that the fundamentals point to a bull market and the technical aspects indicate now as a seasonal low for soy, if I hold these positions through to the end of term I should see some profits or at least limit some of my losses.