Evening Trade 1/4

[NCcorntrader]

Good evening all- Happy New Year!

CURRENT POSITIONS:

SHORT MAR @ 654.75

RECENT TRADES:

SELL MAR @ 654.75

Just letting everyone know where I stand here this evening after a busy couple of weeks of Christmas with family. I have another commitment that will keep me busy until next Tuesday but I hope to get back to a regular evening installment after that. Anyway, regarding the price of corn- I am short here looking for a dip going into next week. The price has come up too far and too fast not to have a retrenchment in my view. Hoping for a successful 2012!

One other thing- corn is now more expensive than wheat.

1915 ET

Mar at 659.50. Pretty typical trading pattern- not looking for much til overnight.

2025 ET

Seeing some mild movement this evening. Grains are down across the board- Mar corn at 656 and change.

[NCcorntrader]

Good evening all- Happy New Year!

CURRENT POSITIONS:

SHORT MAR @ 654.75

RECENT TRADES:

SELL MAR @ 654.75

Just letting everyone know where I stand here this evening after a busy couple of weeks of Christmas with family. I have another commitment that will keep me busy until next Tuesday but I hope to get back to a regular evening installment after that. Anyway, regarding the price of corn- I am short here looking for a dip going into next week. The price has come up too far and too fast not to have a retrenchment in my view. Hoping for a successful 2012!

One other thing- corn is now more expensive than wheat.

1915 ET

Mar at 659.50. Pretty typical trading pattern- not looking for much til overnight.

2025 ET

Seeing some mild movement this evening. Grains are down across the board- Mar corn at 656 and change.

[NCcorntrader]

Good evening all- Happy New Year!

CURRENT POSITIONS:

SHORT MAR @ 654.75

RECENT TRADES:

SELL MAR @ 654.75

Just letting everyone know where I stand here this evening after a busy couple of weeks of Christmas with family. I have another commitment that will keep me busy until next Tuesday but I hope to get back to a regular evening installment after that. Anyway, regarding the price of corn- I am short here looking for a dip going into next week. The price has come up too far and too fast not to have a retrenchment in my view. Hoping for a successful 2012!

One other thing- corn is now more expensive than wheat.

1915 ET

Mar at 659.50. Pretty typical trading pattern- not looking for much til overnight.

2025 ET

Seeing some mild movement this evening. Grains are down across the board- Mar corn at 656 and change.

[roarintiger1]

I guess the price of wheat is just gonna have to go up then.   🙂

[giolucas]

Short March Soybeans at 1232.4.  I feel that the initial jump put in weather risk and we are just waiting for further developments with South America. 

[NCcorntrader]

gio-

good luck with that trade. market "news" ALWAYS gets overplayed IMO. there is no way some weather in Argentina affects the price of corn 10+%. as they say, the bull must be fed.

[giolucas]

Thanks NC.  Just got out with 5 cents.  Can't wait for more.  The night market is just for picking pockets. 

[Palouser]

I heard that exact comment at the beginning of the Russian heat wave. I heard it in 2007 too. You can't outguess the weather. It is probably at least as valid that weather patterns might continue as the market find a reason to go down from recent action.

My observation is that the La nina patterns of last year seem to be in evidence this year in a number of areas. It wouldn't be totally surprising if the patterns continue, though weather is never exactly the same from year to year even if some general patterns are evident.

I don't know what the weather will do but, I know the market often discounts weather before anyone knows the extent of the pattern - which in my mind is a serious flaw.

[giolucas]

Palouser, I understand your point but my position to short the market because I thought we had priced some weather in the market was my perspective to the market last night.  I traded for last night only.  Whatever the weather does it will do and I will probably assess the situation and change my position accordingly.   In fact, thinking about going long at these lower levels.