Grains Journal

Quote from Buy1Sell2:

Maintaining the short postion. looking for a place to add to the short position
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What is the spread in buying or selling in physical commodities like Wheat?
 
depends on whether or not it's at night or not. Corn is probably the tightest spread. I would say the spread is usually an eighth or a quarter sometimes in wheat. To be honest I use limit orders to enter and when I get stopped out, most of the time it's at my price right on the money. Might get slippage of an eighth.
 
Quote from Buy1Sell2:

depends on whether or not it's at night or not. Corn is probably the tightest spread. I would say the spread is usually an eighth or a quarter sometimes in wheat. To be honest I use limit orders to enter and when I get stopped out, most of the time it's at my price right on the money. Might get slippage of an eighth.
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This year I am developing a model for longer term trades on these markets. It's based on buying or selling on the open or close. At the moment I haven't been able to figure out a way of accurately calculating the potential slippage so I was interested in the spreads. As I swing trade it's not that a big of deal, but rather interesting nonetheless.

I am also short Wheat. Hopefully today's upswing gets rejected tomorrow!
 
weekly charts favor the upside a bit, but I am seeing action on the daily that may suggest downside potential. In any event, I'll average up to a point and then hold if necessary. I'm very conservative, so I won't get overextended.
 
Quote from Buy1Sell2:

weekly charts favor the upside a bit, but I am seeing action on the daily that may suggest downside potential. In any event, I'll average up to a point and then hold if necessary. I'm very conservative, so I won't get overextended.
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I am short from 345ish...not worried...see how it develops over the next few weeks...
 
BuySell,

What bearish technical patterns are you seeing with March wheat? I agree that the shakeout that took place in grains yesterday is likely the first leg of some downward action. I do see a bearish MACD divergence starting to form in the dailys of wheat.

Regards
Steve
 
We had a gap up and I don't see a breakout forming is the main thing. Also I see the highs corresponding to a lower peak in the histogram. The RSI does not show that yet, so I have a small position on for now--that way I can average up.
 
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