Trading Recommendations for Wednesday

By Marc Nemenoff
02 September 2009 @ 10:25 am EDT

Grains: Yesterday Nov. Beans closed 24 cents lower at 955'4, Dec. Corn 10 lower at 319'2 and Dec. Wheat 11 lower at 487'2. Over night Beans were 7 lower, Corn 2 lower and Wheat about 2 lower. As mentioned yesterday we are trying the long side of Nov. Beans under the 963'0 level with a protective sell stop at 913'0 for protection. We remain long calls and/or call spreads in Dec. Corn. I will be looking to go long Dec. Wheat under 470'0 if the market allows. Decent weather and a strong dollar over the last few sessions have put pressure on the grains.

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