Wednesday, September 28, 2011
Demand for Dec MGEX Wheat
Despite lower prices across nearly all commodity markets, including wheat, the Dec11 MGEX premium to March12 rose to new highs. I am interpreting this as a signal that MGEX will continue its overall strong trend vs CBOT wheat. While only two days ago, I feared a CBOT rally, the intermarket spread levels are more attractive today.
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