Though I would prefer to wait to see April economic data from China to see if Asian demand is slowing generally, I just like that July MGEX wheat too much to wait. So I took small positions long MGEX against KC and CBOT.
With May MGEX trading at more than 10 cents over July, there is a tightness in MGEX wheat that will cause it to perform well right through the new crop September deliveries.
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Tom Farley's Wheat Trading Journal
DISCLAIMER: THERE IS A POSSIBILITY THAT I COULD BE WRONG.
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2011
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May
(14)
- Scaling Out of July MGEX
- July MGEX Staying Elevated
- Still Trying to Be Nimble
- Mighty, Mighty MGEX
- Lots of Excitement around July MGEX
- Trying to Be Nimble
- Drought Hurting HRW Crop... But We All Know That, ...
- Continuing Cautiously Bullish Nearby MGEX
- May MGEX Open Interest Still 1000+
- No Patience...
- What Would I Like to See?
- Still Waiting for Inspiration
- Must Be Some Ugly Conditions in Kansas
- Bullish Calendar Spread Action on MGEX
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May
(14)
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