Can someone please explain to me how the daily price limits on grain futures work? For example on the CME website it lists todays limit for /ZS as $0.70. What exactly does that mean and how to you translate it into actual price movement? Thanks for all the help.

Hi Pete,

You can find an explanation in this bmt thread:

Limit Up Limit Down Question I am new to trading futures. Day trading is my interest. I am currently educating myself and will begin sim trading shortly. I am leaning toward trading the ES and 6E, but am also looking into NQ, CL, ZN and ZB. My approach will be price action, with …

beursindex 

Hi Pete, You can find an explanation in this bmt thread:

Great. Thanks!

Also, what are the major USDA reprots to avoid? I went to the USDA site and they list every report . . . about 5 or 6 a day. What are the big ones to watch and be flat during? Thanks again.

USDA Crop Progress Report which is posted 2 hours after grains close. (Tuesday's at 4pm EDT)

Massive l 

USDA Crop Progress Report which is posted 2 hours after grains close. (Tuesday's at 4pm EDT)

Thanks.