I think there is no volume on NSW wheat. There is some on the other australian wheat. Otherwise, you can have a big difference between wheat future prices because of both the FOB basis and the quality. For instance, CBOT wheat has such an enormous basis to wheat FOB gulf compared to Euronext wheat which is really close to its FOB (5 €/t).
I guess it's the contrary. New South Wales( milling ) Wheat has a bit of volume but Western Australian no.
Yep, you right, and quality is low with "10.5% Protein". Paris milling is currently very cheap and Europe is exporting really fast. But 0.63 $/b is not unlikely !
Interesting Hightower report ahead of prospective plantings: http://www.cmegroup.com/education/f...rPUfGjI4ATctmNq+TFAwTG5toziV8R7PEJc1oytQQUhLh But I think ZS Jul/Nov trading at a carry in the summer is quite a longshot...
Long Oct/ Short Dec Soymeal @ -0.5 on a curve play. October is intercrop, sometimes at discount, sometimes at premium to dec but this year, the old crop inversion is steep and even Mar-May 16 are lower than Dec15...
I don't know what is happening on white sugar front month, but my "arb" is not as arbish as it looked initially...:eek:
I am much better at exiting than entering it seems. What is funny is I work much more on my entries...
I am literally the complete opposite. I always get out early or way too late lol. I will cut a winner way short or let a winner turn into a loser....i'm working on it though lol.
Corn is quiet today, but it has been making some larger moves recently. I think the 6-week or so period of low volatility in corn is coming to an end. No idea which way it is headed, but I think we will see larger daily moves.