FCX, was that a soy meal trade? Where did you get filled at? I have been watching the soy meal fairly closely here. Got out of a march vertical put spread at a small profit on the hard break this morning.
Yep it was. My fill was: 08:47:21 March-$328.5 (2)May-$323 Jul-$321 I actually was following Tradator on this one and planned to hold for more but didn't realize how much it was moving and an order I just had sitting out there got hit. Was a nice surprise to see that it hit and locked in some profit.
I am also in this trade. I feel that front month should keep going up. Any idea of fundamentals behind this backwardation ?
Why ? Few big traders moving the markets ? I dont see how you can win money by moving a market outside the fundamentals. The only good reason I can think of, is when the pricing of some big volumes are based on the pricing of london wheat futures.