wheat trading

T

tradertrader1

russia's climate dry and hot, +40° and wheat spot is 560 cent future sept 596. your position in the market of the futures? i'm long

the trading with the grain is fantastic, profitable, but extremely difficult, not apt to the palates weak people. and a way to say Italian.
they are still extremely long even if today the quotations are come down, not in strong way, but come down. objective we are in full load trend aggressive trader, with a technical conformation to flag
 
As of today's close, W is at 660.25, so it's a very profitable rally.
I sold some calls a week ago and didn't jump out on time.
I'm taking a hit on this.

Russia weather has created a significant problem there, destrying half of Russia's crop. As Russia is the third producer in the world so this sounds like a lot. However, they export like 17.5 M, so let's say they witll withdraw like 9M from global supply.

But the current stock is really huge, highest on 25 years. World beginning stocks is 165 M, and the estimated ending stock for 2010 is 193. If we remove half of Russia crop (9M) we got 184 M, so this really not create any real problem to satisfy global demand.

However, the rally is real, but not sure if it will be for a long time.

Good luck
 
I've been long call spreads starting at WU 440
Usually set up a 40 cent spread. I roll when it touches my short strike to another 40 cent ATM call spread. This has been a very nice rally in wheat. I'm now long the CU 620-650 call spread. Time to roll again. But you can't resist shorting a little premium in CU with such a move. Sold the CU 800 calls against the spread on Friday's close. I think we have a little room to run but not to CU 800 by August 23.
 
ninja renko system is looking like time to reverse and go short.

i missed the profit train to longsville so i'm looking to darth fader this baby.

Keep me posted.

one word: The Chinese
 
renko farkto?





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Putin Bans Grain Exports, Spurring Wheat Futures
Wall Street Journal - 51 minutes ago
By William Mauldin, Ira Iosebashvili and Caroline Henshaw MOSCOW (Dow Jones)--Russian Prime Minister Vladimir Putin banned grain exports for the rest of the year amid severe heat and drought that has kindled fires throughout the..
 
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