Commodity Update For August 30, 2007

Prices for December Corn closed down .4 cents today. That doesn't sound like much of a move; however, December Corn had been all the way up 8 cents at 348 at one point during trading today. So, for December Corn to actually give up all of its gains today and even close a bit lower suggests that there is a lot of weakness in this market and this price action also suggests lower prices to come. My December 320 put today settled at 9.6 cents or a value of $487.50. So, now I have a profit on this trade of exactly $112.50 before commissions. Now, I'm moving my mental stop on this trade down to the 350 which will help me protect my capital in case the market turns against me.

To take a look at all of my trades, please go to www.mylearn2trade.com.