DISCLAIMER: THERE IS A POSSIBILITY THAT I COULD BE WRONG.

Minneapolis Grain Exchange seats are cheap. Everyone should buy one...and then buy one for a friend.

Thursday, December 2, 2010

Small Positions for the Vacation

I am taking a one week break.

I will take just a long March MGEX/short KC position with me (with a bit of tail hedge to protect against a further wheat rally). And a bunch of long March/short May calendar spreads in wheat, corn and oats.

I did not hold any December Oats into the Notice period, which of course, I regret. But oats was not the only futures market to see a spike in futures rolling off--there were moves in copper, coffee, gold...very interesting. Once the financial longs have done their rolls, supplies start to look a lot tighter.

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