To offset some trades I am doing the following at about 11 central time on Tuesday
Selling 1 Nov bean at 12.23; locking in a profit on my long beans of $2,963
Selling 2 Dec corn and buying a 7.00 put and 6.00 put to offset an old corn trade while selling 2 of the 6.80 calls. The net of all of this is locking in a $9,969 profit.
The last trade that I am booking profits on is long 3 of the 12.50 Nov Calls against 1 short 13.00 call; I am exiting this for about about $1000 profit
As a reminder our MWC Marketing Hour Round Table happens each Wed in Onida at 3:30; we hope to see some of you there as we will discuss the USDA report as well as updating more mock trades.