Tuesday, October 25, 2011
MGEX Wheat Unloved
Once again MGEX wheat dipped at the close, finishing at the day's lows vs CBOT. There has not really been a pronounced downtrend in this intermarket spread and the MGEX calendar spread continue to show short supplies, so at this point I am regarding the weakness in MGEX as a dip which should be bought. We'll see.
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