Tuesday, January 11, 2011
Re-Weighting Rolls On...
Re-weighting conting to pressure the CBOT wheat contract, today driving the MGEX March premium to $1.05. While the CBOT gets sold off on the closes (since last Friday), the cash Hard Spring Wheat market looks very strong narrowing the cash/futures basis and moving to over $1.50 premium to Soft Red Winter Wheat. Sweet.
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