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Grains & Beans
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Created: by myrrdin Attachments:0

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Grains & Beans

  #51 (permalink)
Market Wizard
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USDA report was bearish, but the question remains how to trade it. I do not have a strong opinion on the row crops, and, thus, do not intend to trade corn or beans in the near future.

Bought a very small lot of MWU just before the close. Will hold it until a close below 690.

HRS stocks are the lowest in 10 years. Harvested acres were not adjusted lower in this report, but will have to be reduced in September.


Best regards, Myrrdin

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  #52 (permalink)
Market Wizard
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Still hold a large position of WH19-WN18. Intend to sell the position on one further move downwards somewhere between 50 and 55.

Currently I am building a longterm position in CZ8-CZ9. Basis is seasonals, assumption of acreage moving from corn to soybeans in South Americas, and speculation on weather problems in South America some time during the crop cycle.

I would also be interested in the SN8-SX8 spread, but only at a significantly lower prive level.

Best regards, Myrrdin

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  #53 (permalink)
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Today at 11 am (Chicago Time) / 18.00 (Central European Time) USDA will publish its September report.

I do not expect large price moves upwards as they are discussed elsewhere. But you never know.

The report on Cotton will be interesting.

I suggest to keep positions moderate going into this report.

Best regards, Myrrdin

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  #54 (permalink)
Market Wizard
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myrrdin View Post
Today at 11 am (Chicago Time) / 18.00 (Central European Time) USDA will publish its September report.

I do not expect large price moves upwards as they are discussed elsewhere. But you never know.

The report on Cotton will be interesting.

I suggest to keep positions moderate going into this report.

Best regards, Myrrdin

USDA Report was bearish regarding corn, wheat, beans, and cotton. Cotton trades limit down.

Best regards, Myrrdin

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  #55 (permalink)
Trading Apprentice
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soyabean, soyameal

On 22 sept Fri, soyabean futures ZS and soyameal futures ZM started to move up during Asian time.
It continued till US time.

Was there any indication / data / report prior to that that caused price to move significantly?

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  #56 (permalink)
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maxinger View Post
On 22 sept Fri, soyabean futures ZS and soyameal futures ZM started to move up during Asian time.
It continued till US time.

Was there any indication / data / report prior to that that caused price to move significantly?

During Asian trading hours volume is very limited. Thus, I would not pay a lot of attention to these price moves. In my opinioin, the most important price in the grains market is the closing price.

Best regards, Myrrdin

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  #57 (permalink)
Market Wizard
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I hold careful long positions in corn and soymeal:

CZ18-CZ19
SMZ17, protected by long put options.

Main reasons for these positions are seasonals and the consideration that La Nina might come back during winter and take care of a dry summer in Brazil.

Additionally I hold a long position in oats. This trade is also supported by seasonal charts until at least end of October.

I still hold the WH19-WN18 spread with a target of above 50.

Any questions or comments are highly welcome.

Best regards, Myrrdin

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  #58 (permalink)
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myrrdin View Post
I hold careful long positions in corn and soymeal:

CZ18-CZ19
SMZ17, protected by long put options.

Main reasons for these positions are seasonals and the consideration that La Nina might come back during winter and take care of a dry summer in Brazil.

Additionally I hold a long position in oats. This trade is also supported by seasonal charts until at least end of October.

I still hold the WH19-WN18 spread with a target of above 50.

Any questions or comments are highly welcome.

Best regards, Myrrdin

Hi Myrrdin.

Which Exchange are you using? The symbol looks different from those used by CBOT.
So I guess you are using different exchange.

I do outright day trade . So I am curious how you do all those spreading.
Could you please post the seasonal charts too?

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  #59 (permalink)
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maxinger View Post
Hi Myrrdin.

Which Exchange are you using? The symbol looks different from those used by CBOT.
So I guess you are using different exchange.

I do outright day trade . So I am curious how you do all those spreading.
Could you please post the seasonal charts too?

I trade at CBOT. C is the old symbol for corn that was used in the pit. In the electronic markets ZC was introduced to make a difference. I still prefer the old symbols, which are still widely used in publications.

Sorry - I cannot publish the seasonal charts I use. They are from a paid service (MRCI), and I never publish such information. You could also check seasonalgo for seasonal charts.

Best regards, Myrrdin

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  #60 (permalink)
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myrrdin View Post
I trade at CBOT. C is the old symbol for corn that was used in the pit. In the electronic markets ZC was introduced to make a difference. I still prefer the old symbols, which are still widely used in publications.

Sorry - I cannot publish the seasonal charts I use. They are from a paid service (MRCI), and I never publish such information. You could also check seasonalgo for seasonal charts.

Best regards, Myrrdin


no problem for not publishing the seasonal charts.

I see that you long the CZ18 - C Z19 spread.
I see that historic low around 3Q16 for this spread was negative 18.
And you probably long around negative 16.
Seems like you got a good price. Am I right?

How long do you expect to hold on to this trade?


Last edited by maxinger; September 25th, 2017 at 06:31 AM.
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