Thursday, November 02, 2006

Grains Awesome

Funny thing this blogging. I am quite certain that not a single person will read this except me. There must be a million blogs in the same boat. Ah well, maybe some archeologists will extract this from the electronic ether someday and find out that Grain futures were humming way back in October/November 2006.

Dec Corn went limit up briefly today causing a bit of excitement in the Avalon trading room. I've been long grains for quite some time, adding or subtracting contracts as I go along.

Fortuitiously I added some contracts yesterday. Todays action looks sus'... a shooting star for those candlestick enthusiasts. So I took those extra contracts off. Nice enough trade.

Elsewhere in the CBOT grain pits, Soybeans look similar to corn, but wheat looking decidedly weaker.

Not that I'm bearish on the grains, but ferchrissake we must be due a reasonable retracement... unless these markets have decided to copy stocks and go straight up forever.

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