As a mage, I just want to pursue the truth

Chapter 109 Futures Situation
At the end of LS Le Street in Chicago's financial district is the Futures Exchange Building.

This is the oldest futures and options exchange in the world with a total of 3600 items and commodities.

Kenny went to work in the Exchange building as usual for 20 years, "Good morning, George!"

"Hello, nice weather today means a harvest day! Lille!"

"Praise Sif! I wish you a fruitful day."

Kenny has been communicating with people along the way, and most of them are familiar faces after working here for 20 years.

Sif is the goddess of harvest in Norse mythology. Since most of the Chicago Board of Trade trades agricultural options, many people like to say a word of praise to Sif before starting a transaction.

Although Kenny didn't believe this, it didn't prevent him from saying something when others said it.

The facade of the Chicago Board of Trade building is made of Indiana gray stone, and the outline is indented from bottom to top.

At the top stands a statue of Ceres, the Goddess of Ceres, overlooking the city.

Although it is a statue of Gushen, there are not many people who believe in Gushen.There are gossip that people who believe in Sif have a better chance of making money.

Later, fewer and fewer people praised Celes, except for some very old traders.Compared with them, Kenny felt that he was still young.

The front of the building is engraved with the words "Chicago Board of Trade" in English, and above the words is a huge clock.

"Recently, the futures indexes of wheat, soybean, and soybean meal have all risen very well." After sitting down, he glanced at the morning market, and then went to pour coffee.

A trader simply cannot start his day trading without a cup of coffee.

There is a very strong correlation between soybean and soybean meal futures prices and pork futures prices. *** Members can judge the pig futures price and even judge when the pig cycle starts based on the soybean and soybean meal futures price trends.

Some time ago, pig companies in the Huaguo A-share market rose sharply, because traders judged that the bottom of the pig cycle was coming to an end, or they were slowly rising.

"The trend of soybean meal is not over yet. Whether it is daily K, weekly K or monthly K, it is an upward trend."

"A bullish uptrend that's not going to end so soon."

The American Soybean Meal Continuous Index has risen from a relative low of 10 in mid-October to the current 309.

Up more than 50.00%.

Kenny is a trader who specializes in soybeans and soybean meal. Recently, the market has been very good with little fluctuation and has been rising.

Grasping the [-]-day moving average, selling high and buying low around the [-]-day moving average, Kenny's trader skills for so many years cannot be described as proficient, and the trading skills of this category alone can be said to be a master.

"It's too stable, and it's a steady profit. It would be great if I could make money while drinking coffee every day."

"Unfortunately, this kind of good time will not be too long. We must withdraw next month. No matter how attractive the market is, we must short positions next month."

"Until the number of Fed rate hikes is not decided, I will not trade."

"There's no need to go to the sea to fight crocodiles before the environment is unstable." Kenny knew very well.

As a veteran trader for more than 20 years, he has experienced two previous Fed rate hikes. At this time, the futures fluctuate violently, which is not the time for a stable player like him to operate.

Many years ago, the trading method of the Chicago Board of Trade was still to shout orders offline, and whoever shouted loudly could be the first to close the deal. A good voice can be said to be Kenny's stepping stone.

Later, even if pure online electronic trading could be realized, Kenny also liked to come to the Chicago Futures Building for trading, because it was full of his youth and memories.

The joy of every successful trade and the bitterness of every bad one.

"The soybean meal index is soaring today, you can try to make a short-term emotional transaction."

Kenny thought to himself, "Push the position properly."

"Break through the 485 line and stand firmly on this line! Beautiful!"

"I don't know if I can stand firm on the 490 line today."

The trading hours of the Chicago Stock Exchange are from 09:30 am to [-]:[-] pm, Monday to Friday.The working hours of futures traders are very short. Of course, you need to bear the psychological burden brought by the corresponding high risks.

Not everyone has the qualifications to make a living in futures trading. The qualifications here are not only financial-related knowledge and a sense of the financial market, but also courage, the courage to admit defeat and leave the market.

No futures trader's trading career has not exploded.

"Eh? Why is there such a sudden drop line?"

"It pulled back again, and fell rapidly again, back to 474.9, what's going on today?"

"There is no special news on the news surface."

Kenny was still drinking coffee calmly, and then saw that the soybean meal index was bursting, and the time-sharing K-line chart returned to 450 points with little resistance.

Kenny almost sprayed coffee on the keyboard. He knew that this was not the time for the bulls, so he closed the position directly. The short position was too powerful, so he closed the position directly.

Looking at the delivery order, the profits of the two months of this year were all lost in just 2 minutes.

Kenny slapped himself hard twice, "fooled by the resistance that started to fall."

For example, a time-sharing K-line that stops after falling and then rises rapidly, this may be an empty trap.

But today's time-sharing K-line, the suspected air-trap only appeared twice, and then it was all diving time-sharing K-lines.

Kenny glanced at the American Soybean Oil Index, which was also diving, and the Soybean Index was also diving, "What happened, why did all the soybean-related indexes suddenly drop."

"There must be some news that I don't know about, and someone snatched it up ahead of time!"

"Fortunately, I don't like to increase leverage, otherwise I don't know how many people will liquidate just this order."

He could already hear the shit and wailing from the trading room next door.

Kenny glanced at the telegram group, and the traders were all asking what happened, why the soybean-related indexes were all falling wildly.

Everyone is frantically looking for news, which country's soybean production has exceeded expectations, or the Fed is going to raise interest rates in advance.

The problem is that if the Federal Reserve raises interest rates in advance, all futures will fall, instead of only the soybean-related futures index falling like today.

After trading stopped at [-]:[-] in the afternoon, Kenny packed up his things and prepared to go home with a frustrated face.Originally, I wanted to eat a steak outside, but now it seems that I can only eat a burrito.

"CBOT corn, wheat and soybean futures fall across the board"

"On that day, the most active April contract in the Chicago Board of Trade corn market closed at $4 per bushel, down 3.185 cents or 18.5% from the previous trading day;

The April wheat contract closed at US$4 per bushel, down 5.165 cents or 17.75% from the previous trading day;

The soybean July contract closed at US$7 per bushel, down 7.495 cents or 105.75% from the previous trading day. "

(End of this chapter)