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.

Monday, August 1, 2011

Two Full Sessions with No Wheat Trading

What discipline!

Intermarket wheat spreads have continued to trade in a narrow range.

Calendar spreads on the CBOT continue to drift toward steeper contango. If the Sep/Dec calendar spread continues on this trend, I will liquidate in 4-5 days against the GSCI index investors rolling their long positions to Dec.

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