Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I am looking into scalping the corn futures (ZC on CBOT).
What are the most important reports affecting ZC and when are they released?
Also, I am planning to be watching the nearest two months of ZC as there are periods where both are liquid enough to trade and a lot of spreading is going on which might be helpful to decide which month to go long/short.
What other markets do you recommend I should watch?
These USDA reports are released at 11 am Chicago Time (18.00 Central European Time).
There are other important events, but they are not published as regularly as these reports, or they are not as important. During planting season there are weekly reports on the status of the plants or the harvest, released each Monday at 3 pm Chicago Time. And there are reports on weekly shipments each Monday and on weekly export sales each Thurday. I think these reports are published at 7.30 am (Chicago Time), but I am not sure. There is a very important report on prospective planting in March, and there are several crop tours around this time of the year (August / September). These reports are not published at a scheduled time.
There is also the issue of a famous "limit move". Could you explain a bit more how this works and how can this be a threat to me as a scalper? Does it happen after these reports are released usually, or can it be at any random time?
If there is a limit move, when does the market usually re-open? Is it always the next day?
I will explain it for corn futures. (There is no limit move for options.)
Corn futures can move 25 c per day. The trade is halted until there is a trade within the limit. In case the market is locked limit at the time of the close trade begins again on the next day. There is an expanded limit on a day after a limit move of 40 c.
Often limit moves happen after important reports or - during a weather market - on Mondays, if there is a surprizing weather report on Sunday.
You should look for deeper liquidity to be a scalper. This is my opinion.
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
