ECBOT Wheat Spreads

Anyone looking at k2/u2 or n2/u2 from a bull-spread perspective?

 

I follow most of the commodity spreads and have the data for the wheat back to 1975.

Long what and short what?

 

yes, and n/z KCBT

 

Long K2/Short U2

Long N2/Short U2

Am I correct?

RG

 

Correct. I was looking at them from a full-carry perspective, but I was recently informed about the variable storage costs inherent w/ wheat markets. With the VSCs in mind, not sure either spread has reached the threshold yet - might be too early.

 

My Review of the first spread K vs. U

 

Levels today might represent the opposite trade apparently. Short K, long U.

 

Today, wheat kicked me really hard, why wheat rallied so hard today than corn and soybean?
USDA reports said Wheat supplies are increasing, oh well,