Heil Harvesting, Ulysses KS/Limon CO | All I can say is you are in a good situation. March is down 2$ this morning, I can't say that 22$ wheat looks soft even though it is down 2 bucks. There is $4 worth of carry between March and May 22/18 board price, so there is a chance you would take a hit if you waited till they price off the May contract...but May contract is subject to limits so it was unable to go up the $4.75 yesterday. SO that was a big circle but the carry should be considered....I would sell now, if you really think there is upside go out and you can go buy May 21-22$ calls for a buck--sold wheat for 24$ and left some room on the upside. You will not be able to capture all the gain if it rises but risking a dollar is a lot better than getting on the wrong side (cash market or futures market) when/if it decides to reset.
Either way I commend you on your patience and nerves--let us know what you end up doing. |
Where do I pull the plug on HRS
