Friday evening corn report
Last I reported, I mentioned that Corn was rebounding down from its 50 day moving average. It continues to do so. Down 4.22% or -$13.75.
If you don't understand futures, they are just contracts. Someone buys a contract, someone sells. Each contract is worth 5000 bushels of corn (and if you don't want to be obligated to physically buy it, I suggest selling the contract before the expiration date - in this case December).
Bill, you like leverage - the margin on corn is by bushel, so $326.50 was the last trade, so that controls $16325 worth of corn - which is your money - but the contract you pay for is $326.50 - the leverage is each 0.10 move is worth $500.
So - if you went short on corn contracts, just a contract between you and someone else - think about it --- you'd be up $687.50 today alone... I've been posting on corn for days!!!! and you are trading what???? pennies.
Corn is where it's at... anyway, I'm outta here, you can find me cornbuzz dot com.
http://www.scripps.edu/~davess/siri5/corn4.gif
p.s. you don't have to wait until monday to trade either - futures markets are open on sundays!!!!!