Grains Journal

I began scaling in short March Wheat today. I have started with a very small position and am looking to add at higher levels. Much the same as I did with the S and P earlier this past spring.
 
Quote from Buy1Sell2:

I am looking at a close below 6.81 1/2 (11/16/06 low) as the decision time to either get out or go short. As long as we stay above that level, I will remain long the July Beans. Now if we get a double top and/and or strong bearish divergence then I would look at reversing as well. First and foremost, I am looking at 6.81 1/2. Close today was 701 3/4.
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I made my decision today and closed the July Bean Long trade today MOC at 6.87 3/4. I did not short. I will watch the market for a new place to get long.
 
Quote from Buy1Sell2:

I began scaling in short March Wheat today. I have started with a very small position and am looking to add at higher levels. Much the same as I did with the S and P earlier this past spring.
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I will add short July Wheat on a break of the Dec 11 low of 474.5.
 
Quote from Buy1Sell2:

I will add short July Wheat on a break of the Dec 11 low of 474.5.
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Still looking at a breach of this area as a place to add short July Wheat.:)
 
Quote from Buy1Sell2:

Still looking at a breach of this area as a place to add short July Wheat.:)
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I have added short July wheat today at 4.72 1/2 as we broke the Dec 11 low yesterday late.
 
Quote from optionpro007:

Impressive entry into July wheat short position b1s2.

Do you a time/price target for this trade ?
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No. I am just watching the daily and weekly reaction highs here. I will not be afraid to let the trade go negative as long as we don't break those highs.
 
Quote from optionpro007:

b1s2. do you know what is happening with AGs ? Why are they spiking in this manner ?
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WASDE came out today (and every month about this time).

HUGELY bullish for Corn with a lot of drag-along effect. Wheat is something of a mystery, their fundamentals are looking pretty bearish (quite a bit more ending stocks than expected). I'm guessing the runup there is Corn drag-along.
 
Quote from FullyArticulate:

WASDE came out today (and every month about this time).

HUGELY bullish for Corn with a lot of drag-along effect. Wheat is something of a mystery, their fundamentals are looking pretty bearish (quite a bit more ending stocks than expected). I'm guessing the runup there is Corn drag-along.
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Here's a good way to get in if you're stuck out of limit up: DBA etf. 25% corn, 25% wheat, 25% soy, and 25% sugar futures... likely the fund is unleveraged, so prepare to buy a lot if you like leverage.
 
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