Corn 8/10

Welp, the report came out and for a second, corn reach up towards $8.49, only to retrace to 816.  Exited 830 call option for a loss of 10 cents, at 818 bought 2 more $9.00 called for 31 cents each.... holding 7 $9.00 Dec call options at an average price of 37 cents... at 824, $9.00 call are trading for 33 cents... Can accept a 28 cent loss, so will be holding for a little longer... would accept a 14 cent loss, unless we see some strength...however will probably hold from here...

Corn 8/9/12

Have scaled in with 4 Corn $9.00 Dec call option and 1 $8.30 Dec... Average entry at $8.24 on the Dec contract... Also Grabben 2 Bean $18.00 Oct Call options at 1588... Currently, Breaking even at 1:00 on the Corn trade and Doing well on the the Bean trade..
Had a strong open on the pit with a test of 829 just before 1:00 we had another test which was also rejected.. Support at $8.23 and Resistance at $8.29... Small Range ...  USDA Report out tomorrow morning and am VERY nervous heading in... Hoping for a close at the top this afternoon, with the Robots taking it higher overnight... May the Force be With You...

Corn 8/8/12

Been awhile since my last post as I have been busy trade corn... Took 1 call option yesterday at 797 and looking for a better entry heading into the report... Currently trading at 806... The plan is to scale in with 2 more options for a total investment of $7.5 k... Hoping to better my 830 call which I originally paid 48.7 cents... Still have tomorrow with the exports... and will definately buy 1 more, no matter the price, before the report... Mange risk, stay long...

Corn 7/8 Sunday night open

Last week I scaled in with purchasing an 800 Sept call for 19 cents at 708, as the price came down, I purchased 2 760 Sept calls for 25 cents each at 696, finally I grabbed a 740 Dec call for 40 cents at 688...
The open was a good one, but as I paid too much for the 800 and a touch much for the 740's, at 713 I am just above water... which, to be honest, I am happy to be...
The USDA will release thier next Progress report tomorrow at 4:00, so all we have to do is maintain value, or gain value, into todays close.  I expect terrible numbers out of Indiana, Missiouri, Kentucky and Illionios... Actually, I am looking for a Good to Excellant rating in the high 30's, which should provide a hell of a move upward...
I am skeptical about the S & D coming out on Wednesday and If we have a breakout tomorrow, I may consider scalling out with some profits...
Until tomorrow, hoping to stay above 710 on the Sept contract...

Corn Growth Stage ...

http://weedsoft.unl.edu/documents/growthstagesmodule/corn/corn.htm

Corn 6/27

Exited all positions last night at what turned out to be the low of the day... Pulled 100 cents out of the market and went to bed happy... wasted most of the day away feel super proud of myself for accepting profits thus allowing me to trade more since i know have alittle buffer... Reentered the market today grapped a Sept 660 call for 31 cents at 1:00 or so, then picked up another at 7:00 pm for 26.6 cents.  Current cost for both is 28.2 cents currently trading at 27 at 623...  Expecting to see a bounce off 620 but thats what I said at 630... Tomorrow is the Big USDA Stocks and Acreage reports... Trade expecting higher acreage and less stocks, however with the slow down in ethanol, I am worried about this current trade... I anticipate holding it over the weekend, unless it turns south, in which case, I will exit and try to reenter at a better price later... want to be long going into the weekend but may see some sell off.... will try to protect my investment by having a limit order ready to go if she takes a tumble... May The Force be with You...

Corn June 25th

Corn 6/25/12 - Been awhile since I update the blog, mainly expressing ideas and trade notices on Stocktwits... Currently I have scaled in to corn via Call options... Currently holding a 560 Sept Call and paid 20 cent entered on 6/12, a 600 Sept call paid 21 cents entered on 6/19 and a 630 Dec Call and paid 20 cents entered on 6/21. Total investment so far is $3,000, at 589 I am up almost 55 cents on the overall trade. Starting to look for an exit point, however with the Crop Progress report out this afternoon, after the grain market closes, tomorrow could be another limit up day. Last week's Progress report was at 63%, a report of 59% would be devastating. However, traders will be expecting to see a higher acreage reported on the upcoming USDA report to be released on the 29th... The trade is apparently expecting larger planted acres and with the spotty USDA throwing BS #'s around, it could imply even large harvest even though June is turning out to be the driest since 1988. Some farmers will have corn, those who can irrigate will be making some serious cash, but i do not believe that it will make up for nearly all of Indiana, MS parts of Nebraska and OH... tonight's report should show increased declines in the condition of corn in these states as well as all the others... a report below 59% good to excellent would push corn another limit up and we could easily see $6.20 corn this afternoon. Currently, weather will dictate the price... any mention of rain and these gains will disappear as the mentality will be the corn is saved... I also disagree, pollination is starting and the models all show dry and hot, from my research, no rain no pollination and that would imply a total loss in the southern states... that's crazy, but possible. Again, if the USDA report extremely large planting, this could sway the market into thinking that a little loss is made up by the increased acres... but with such tight stocks and what is now starting to look like a 150 yield... I foresee a shortage that will take the price of corn to the moon... I am not a doomsday sayer, but something has gotta give... Intend on holding options up to and maybe through the Friday report... May the Force be with You...