Wednesday, November 9, 2011

Update on trade for Jeremey on short corn

With the USDA report neutral to friendly corn; I am going to take the chance this morning and buy back my short corn scale trade.  Presently Dec corn is at 6.48; so this allows me to lock in a little over $4,000 profit.  I am not going to re-enter this trade; but I am going to place a buy stop at 6.65 basis the Dec to go long 1 contract; if I do get filled I will then place buy orders at 6.60 for 2, 6.55 for 3, and 6.50 for 5.  But only if I first get filled by the stop.

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