If I were really patient, I would have waited til now to put on the long March/ short May calendar spreads....but I'm not patient. Actually, it shouldn't have much impact on the MGEX at all since there are so few index longs. But with CBOT sliding out toward 32 cents carry from March to May, it's not likely to inspire anyone to grab MGEX March contracts at only 10 cents discount to May.
Adding a little to short corn trades: I added long March ethanol/ short corn today with the ethanol crush at the lowest levels in a long time. According to the CME's Ethanol Outlook, profitability is very low in the industry even with high DDG prices. If anyone has a good source of DDG prices, I would love to hear about it.
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