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.

Thursday, October 6, 2011

Golly, Where's This MGEX Wheat Train Headed?

Dec11 MGEX which was 40 cents premium to March12 at yesterday's open finished at 60 cents premium today. This tightness helped push the intermarket premium for Dec11 MGEX wheat from $2.50 over CBOT up to $2.80. That was enough for me. Just keeping the bargain level back months. Since the front month spread drove most of the intermarket change, the back months--July12 and Dec12--barely moved on the day.

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