With Sep11 off the board, Dec MGEX was the strongest of the grain markets. Not surprisingly, with corn dropping 3% there was not so much support for CBOT wheat and the Dec MGEX/CBOT spread added almost 15 cents. The action was more muted farther out on the curve with July MGEX up only about 5 cents against CBOT.
I only managed to put a toe back into long Dec11 MGEX vs CBOT positions.
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