What went right in the 3rd week?
All my trades in the 3rd week is based on the assumption that corn and wheat prices to outperform soybeans during the next few months due bigger-than-expected U.S. soybean supplies.
With corn planted early in the season in the United States and the record pace of harvest for corn and soybeans, I shorted on Soybeans for six contracts. And fortunately the expectation of next period harvest was pushing prices lower in during Monday and Tuesday.
According to Badruddin Khan, an associate vice president of research at India bulls Commodities, The overall fundamentals for wheat are weak. Additional supplies from government warehouses could further depress local prices which have been falling for the last two weeks. And traders also expect the government to release additional wheat from its warehouses to cool local prices. Therefore I sorted on wheat for six contracts since Wednesday.
However, even if I had a correct prediction I still lost more than three thousand dollars over all last week in the market. That is because the system did not prove or accept my order as soon as I expected. After the ally in Monday and Tuesday I decided to get out of soybean mkt since it had been over shored and price would increase for one or two days. But the system did not accept my order until Thursday and lost about nine thousand dollars for that. Something happened again for wheat. I shorted on wheat for six contracts but two of them did not accepted until end of the day, and I did not earn anything for these two.
