The CBOT wheat sold off about 7 cents over the last minute driving the spread against MGEX to new highs.
KC wheat spreads still available at 80% of full carry for March/May--and that's using 2.25% for financing (though no delivery charge). This is an essentially free option on wheat tightness.
The GSCI re-weighting had less impact on Corn, though a strong close in Feb ethanol puts that trade near the top end of its recent range.
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