Grains Journal

There is no difference. Locked limit is the same as limit up. or limit bid. It means one cannot trade higher than that price (for today.)
 
Just noticed last night wheat has had a huge spike up here lately. Parabolic. But as you can see topped out earlier today. Was tracking it but forgot to look here the last couple of weeks and missed this.
 

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Quote from ECTrader:

There is no difference. Locked limit is the same as limit up. or limit bid. It means one cannot trade higher than that price (for today.)
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What I was referring to was "locked" in the sense that trading had ceased for the day.
 
Quote from BCE:

Just noticed last night wheat has had a huge spike up here lately. Parabolic. But as you can see topped out earlier today. Was tracking it but forgot to look here the last couple of weeks and missed this.
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Yes it has. I had chosen the corn and beans instead so as to keep myself from being overextended and missed the boat. Sometimes that happens. Looks like Wheat may not be done yet though as today's pullback did not violate recent daily lows.
 

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Locked only means that you can't place a higher bid (if limit up) and vice versa if limit down. trading can continue at the bid or lower until the grains close.
 
Quote from ECTrader:

Locked only means that you can't place a higher bid (if limit up) and vice versa if limit down. trading can continue at the bid or lower until the grains close.
More...

Locked means that no one will sell at any price in a limit up move and vice versa in a limit down move. Thus trading ceases otherwise it is not locked limit.
 
Hope I understand this correctly. How does one know when a market is traded either locked limit or just limit in electronic markets? No bid/ask in the case of locked ? and either an ask or bid in the case of limit ?


Quote from Buy1Sell2:

Locked means that no one will sell at any price in a limit up move and vice versa in a limit down move. Thus trading ceases otherwise it is not locked limit.
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Putting in some orders here to buy out of the money corn put options (below the market). 280, 290, 300. This will protect my quite a bit of my profits, while allowing me to participate in a larger move higher. This is one of the few scenarios where I will buy options. A very strong parabolic type of move will lead to me doing this. If it is not parabolic, it's difficult to have the premium make sense.
 
Right now I would be caution buying grain options right now. I don't have easy access to the data but I would imagine vols have increased dramatically.

I was think about a long soybeans short wheat trade, any thoughts
 
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