Grains Journal

Sold out of July Beans today at 601 even. I didn't like the look of the chart. It appeared to have a double top RSI with a downside reversal today. I picked up about 12 cents ($600) on the long July Beans trade. By the by, seasonality is turning negative on Beans as well. There should be two more bounces --one in June and then another in August/Sept when frost concerns in Minnesota etc will/should cause a bounce.
 
Quote from Johnny Walker:

I am preparing to short oats soon. Hoping that it will touch the 2.00 mark and I am also waiting to see the WASDE report on May 10. It looks like from Stat Cananda report that Canadian farmers are planting 18% more oats then last year.
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Have you shorted the July Oats yet or still waiting for May 10 report? I noticed that they had a bit of a selloff, but I don't usually like to trade when the Histogram is this tall. I suspect a small bounce coming prior to being a good short. What do you think?
 
Quote from Buy1Sell2:

Sold out of July Beans today at 601 even. I didn't like the look of the chart. It appeared to have a double top RSI with a downside reversal today. I picked up about 12 cents ($600) on the long July Beans trade. By the by, seasonality is turning negative on Beans as well. There should be two more bounces --one in June and then another in August/Sept when frost concerns in Minnesota etc will/should cause a bounce.
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July Beans suprised me a bit today as the chart didn't suggest the upside. In any event, I did have a profit and will watch this market to see if this has legs. Most likely, I will look for an area of reversal. I don't generally chase markets up.
 
Quote from Buy1Sell2:

Have you shorted the July Oats yet or still waiting for May 10 report? I noticed that they had a bit of a selloff, but I don't usually like to trade when the Histogram is this tall. I suspect a small bounce coming prior to being a good short. What do you think?
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No I was not able to get in short, I was being greedy and waiting for it to hit 2.00. I will now short oats if it hits 195.00 as long as fundamentals stay bearish, which it appears they are.
 
Before I went on vacation thursday I went long 2 corns and short one oats contract it turned out very well. I sold off one corn and covered my oats at a small loss. I'm going to hold my corn for the next month or so.
 
Quote from Buy1Sell2:

July Beans are starting to pick up steam and I am in the black now. Even the Long July Short Novie is beginning to look a little more promising. Patience Patience.
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I am out of the Long July/Short November Bean spread today at 20.5 to the November side. This constitutes a roughly $500 loss. This happens sometimes. Hey --it didn't work this year--what can you say.
 
Quote from Buy1Sell2:

I may cover the 400 Wheat calls. I'm not sure I want to wait until third week of June to pick up the last 25% of the premium. May and July Wheat have been a boom for me this year.
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I am happy that I covered the July 400 Wheat Calls when I did. The price has zoomed right to 400 in the past few days.
 
Quote from Johnny Walker:

Before I went on vacation thursday I went long 2 corns and short one oats contract it turned out very well. I sold off one corn and covered my oats at a small loss. I'm going to hold my corn for the next month or so.
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Be careful with the gap up on Friday. Those can be deceiving. If it goes on a few days without significant upside, I would consider getting out.
 
Looks like a bearish Histogram divergence in the July Oats today JW. I think I may sell a few on the close. Beans had the divergence yesterday. Looks like it may be a good place to short the July. What say you?
 
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