Soybean Jul-Sep also in backwardation despite low price and high stocks, maybe the stocks are not low enough for both cotton and soybean to go full contango
Taking a look at the Live Cattle June-August spread. Cash trade is at a standoff right now in the Midwest with the weak futures. April is $10 over June, and comes off the board in 3 weeks. That's enough for feedlots to try and bring some cattle forward to get the better price. The M-Q spread has gotten hammered over the past couple days, could be a good time to buy.
lol I think we must be trading the same strategy or very close to it. We have so many similar trades at the same time.
Lol...I hope it won't become like rates where everyone had the same position at the same time until it eventually stopped working... It seems weird because my trades are based on multiple strategies, some on seasonals, some on the curve "inefficiencies", some on fundamentals... But we tend to all see value in the same place for different reasons.
Averaged it down a bit. Now my entrypoint is @ 0.07. I am really struggling with the longer term stuff right now...At least scalping is good but... I went from no loser at all during fall to no winner at all right now...
Short Sep/ Long Dec Corn @ -10.25 on seasonals. Hoping there won't be major issues during growing season. It has kind of broke out to the downside while outrights haven't...