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-The calendar spreading is very competitive across the ag complex, especially in corn. I don't know how worthwhile it would be to watch the spreads relative to scalping outrights. I would highly recommend against trying to leg corn calendar spreads manually.
-Google is your friend when trying to find when USDA reports are released...
-If you're going to use limit orders I would advise reading up on the matching algorithm for the various ag products because you'll find the size you're trading affects your queue priority.
wow, I would like to thank everyone for their contribution. This forum rocks compared to some other ones
Considering all the information you provided I changed my mind and will not pursue my strategy in ZC. It was more dictated by looking for a market uncorrelated to anything financial but the cons outweigh the pros
Nowadays, there is always a very quick reaction after USDA reports which is caused by automatic trading algorithms. After some time, when the first human beings have studied the report, the real moves begin.
This was different some years ago, when USDA reports were published before the open.
Revisiting this thread, had another thought I want to share that touches on watching further out contracts to scalp the front month; If a back month is sitting on an options strike it might attract some delta hedging that would ripple out to the front month, might be good for some noise or maybe a bounce.