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Agriculture Products
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Created: by josh Attachments:2

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Agriculture Products

  #1 (permalink)
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Agriculture Products

Does anyone trade wheat, soybeans, corn, etc.? A search turned zero results for useful mentions of these words on this forum. The corn contract shows about 150K contracts per day (just an eyeball), and looks to be at least as liquid as YM. So, why are more people here not trading it?

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josh View Post
Does anyone trade wheat, soybeans, corn, etc.? A search turned zero results for useful mentions of these words on this forum. The corn contract shows about 150K contracts per day (just an eyeball), and looks to be at least as liquid as YM. So, why are more people here not trading it?

Wheat futures have daily price limits:

"$0.30 per bushel expandable to $0.45 and then to $0.70 when the market closes at limit bid or limit offer. There shall be no price limits on the current month contract on or after the second business day preceding the first day of the delivery month."

There is a risk that you will find yourself locked limit up or limit down, when there is an unexpected report from USDA or sudden news on bad weather.

Index futures have larger price limits under the NYSE rule 30B. There are down limits applicable for declines of 10%, 20% and 30%. 10% and 20% declines lead to a temporary halt of trading, while a decline of 20% after 2:00 PM or a decline of 30% will see the stock markets closed for the rest of the day.

As to my knowledge, currency, interest rate, energy futures and futures on metals do not have daily price limits. Natural gas has circuit breakers, but no final limit.

Trading wheat futures is certainly an attractive option, but you will need to have a look at fundamentals and news releases as well.

Attached Thumbnails
Agriculture Products-price-limit-update.pdf   Agriculture Products-price-limit-index-futures.pdf  
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As always FT, thanks for your timely and accurate replies. With respect to fundamentals, I could see logically why the agriculture/meat/softs/etc are tied to fundamentals perhaps a bit more than currencies or metals or indices, but isn't supply and demand supply and demand? Don't the fundamentals reflect on the charts essentially the same? I can't be a fundamental trader because I'm not smart/predictive enough to do that--I rely on what the chart tells me, and while I'll get a whiff of a news report and sometimes make a decision to not enter based on it, for example, I definitely can't be juggling even more info when making a trading decision.

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Hi Josh

I find these also interesting. I am a complete novice in this area and had traded so far only stocks and some ETFs. As I cannot due intraday trading I am now looking at these markets. In my interests are only spreads so far. They resolve this problem of limit movements.

I just have red some news on other forums: and seems to me that there are two groups of people trading in these markets: those trading on fundamentals that try to predict 10 and more inputs to get supply and demand development and chartists.

I am just starting and I was looking at mrci.com I went through few books and I think I will go around that with some price patterns and fixed profit targets.

What is your approach and entry exit strategy. Do you have some special package for NT for trading of spreads?


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