The chief worry for me being long MGEX vs CBOT is that the non-commercial shorts on the CBOT will drive that market up faster then the MGEX. As the S&Ps and all other "risk on" assets moved up today, I cut all but my most deferred long MGEX vs CBOT positions. The timing was pretty bad--worst levels of the day--but not too different from yesterday's close.
As a small side bet, I keep trying to get long CBOT wheat vs corn. Still trying it. It's still not working.
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