It won't be long before we can trade futures on America's biggest cash crop. You know, that stuff the founding fathers grew in between tea parties and running a batch of shine.
I went long ZM Z17/F18 this morning @ -1.7: -Historically low. Low risk. -F18/H18 went inverse in early July and is currently @ 0. It indicates supply can be tighter in early '18. -You never know with current drought.
That chart is specific to the Z contract only though. A non back adjusted continuous chart doesn't look like that for ZC. Aside from that I will say that the day to day or week to week action sure has been a bit megaphone/bipolar in spirit though.