Writing Before the Close...

Dec11 MGEX wheat has dropped 80 cents/bushel vs CBOT in just the last 4 sessions. It is now about 65 cents/bushel below where it was when I noted that the MGEX premiums were too risky for me. I should note that I was not not long the Dec11 MGEX anyway, but rather the March12 and July12 MGEX which are only about 15 cents lower and unchanged respectively versus CBOT. I am still patting myself on the back for avoiding some extra volatility...