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https://www.barchart.com/story/news/28511498/cocoa-posts-moderate-losses-on-the-outlook-for-a-global-cocoa-surplus

I am still long U25/Z25 despite the recent "bearish" news of better harvest ahead( It will start soon so the reports must be reliable ). U/Z ( and Z/H ) are kind of intercrop spreads so if the current deficit is not replenished by the new harvest the bullish push will be on those spreads instead...

Correct. Don't worry. Everybody does it.

You can cancel your limit orders all you want as long as you wanted the order to be executed when you entered it. What is prohibited is to place orders for the sole purpose of influencing the order book and canceling them when you obtained the desired effect. That's why the original case in this...

Yes. But this is not the definition of spoofing. It's the legal base that permits to sanction a good bunch of manipulative techniques : spoofing, layering, fake orders during pre open to look for iceberg or stop orders, this technique we are talking about...

https://www.justice.gov/opa/pr/former-jp-morgan-precious-metals-traders-sentenced-prison

I am pretty sure I read spoofing disciplinary notices with individual members involved. By the way, I am a NYMEX member and one time I had to explain what I was doing with my orders to my clearing FCM before he decided to report me or not( He thought I was kinda spoofing but he couldn't see with...

So funny. I receive this just as I am writing.

I mean the risk of getting sued by 2 federal agencies to save 2 ticks.

I don't know if that still applies. IMO there is still some "subtle" spoofing going on, but the blatant spoofer who puts 10x his size behind the market to force execution of the small order on the other side is gone or performed by idiots who really don't know what risk/reward is.

I don't know what order spoofing is, but this is slightly different from regular spoofing. Spoofing is a size game in a populated order book. This is more a cat and mouse chase in illiquid markets. It is something you almost naturally do in an empty book, and when you realize the other order has...

Hello, If you are tired of the bot constantly improving your best bid/ask on CME illiquid markets, don't try to drive it past fair value to finally hit the order from the opposite side. It 's punished now( see attached ). It's the first time I read a sanction on this, perhaps I am late and it...

Last week's export sales ."Wheat: Net sales of 578,500 metric tons (MT) for 2024/2025 were up noticeably from the previous week and up 1 percent from the prior 4-week average. Increases primarily for South Korea (119,000 MT, including decreases of 1,000 MT), Mexico (92,700 MT, including 30,000...

LOL. I can totally see that happen to him. It must be the 15 seconds he was talking about in the video. It seems it was a common occurence for him to get a margin call, talk about overleverage...His clients at one point were in awe to his 30% per year track record, not knowing they had a...

I haven't checked in 2 weeks or so, but I think Matif isn't out of historical norm with US wheat. KC is the closest in specs to Milling wheat, but I don't know if there are some physical arbs or unusual trade flows happening right now.

Finally read "The education". All I will say is what happened is the logical result of what transpires in the book : Huge ego, bizarre ideas( "trading and music" as a strategy, seriously???) and too much risk appetite. There are some interesting chapters though, but the most part is just...

https://www.reuters.com/markets/commodities/copper-stocks-surge-offers-little-relief-cme-shorts-2024-06-25/

"had a habit of ordering every dish on the menu at fancy restaurants, leaving most of the plates untouched". What an asshole. I can't remember the last time I read about a "flamboyant" guy that was an actual success.