Dec MGEX--The Worst Wheat in World (Today)

Frustrating day for lovers of Dec MGEX wheat futures as the market strengthened vs CBOT from the opening towards afternoon only to plunge late in the session. I added to my long Dec11 MGEX vs CBOT position while the market was strong and that looked pretty dumb by the end of the day.

Certainly there is the possibility that MGEX will continue to weaken versus CBOT as both market trend downwards--with the CBOT descent slowed by its cheapness relative to corn. That would be rather painful for me.