EMG, think you may be right on the Z11/Z12 corn, bought it today at 34 1/2. Looks like it may take some time to do anything. Regards,local
Good Evening: I went long the ZC H1-ZC Z1 spread @ + $.68 on Friday of last week. I still think the bull spread can work for the next few weeks. Once the month of March rolls around, I will be looking to short the ZC N1-ZC Z1 spread. But for now, I will ride the ZC H1-ZC Z1. Anyone else playing any corn spreads right now?
Corn spreads have worked out well, really like n/z after usda's report last week. The only thing working against it may be the composition of the open interest. Regards, local
The N/Z spread out to new highs today, 108, Z11 corn appears to be the weak link, hearing reports of large increases in corn acreage next yesr. $6.00 new crop corn will do that. If that is the case, Z11/Z12 may start stabilizing. Ideas ? Regards, local
the 92 million acre USDA acreage estimate is based on data compiled 3 months ago, but you got $14 beans fighting aginst $6 new crop corn. I'd sell the Z-Z late June. not a moment sooner. sell the Z11 / Z12 LATE June. the Average High is the first week of July in tight supply years
Yes, it is premature to short z11/z12, butterfly spread N/Z11/Z12 would probably work. Watch N/Z, value is embelished towards the close. Beans closer to $13.30 now, not sure if it is going to be high enough to atttract acres. Regards, local
N/Z corn closed at it's highs, $1.13, up 9 1/2 on the day. Z11/Z12 struggled, closed lower, large volumes trading at the lows of the day. Th N/Z action reminds me of my days on the floor, whenever the sqeeze was on, be abuyer of the spread at 1 o'clock, old trick, some things never change. Regards, local
Local: Can you enlighten me as to why a trader should look into the ZC N11/Z11/Z12 butterfly spread instead of the N11/Z11 spread? My charts tell me that the N11/Z11 spread is a better set up. I am still long after rolling out of H11/Z11. Also, do you have an opinion as to whether there will a shortage of U11 corn? Thanks!