Hello all, I've been dabbling around the forums here off and on for awhile - and I thought I'd give some insight into what I myself and some other pit traders are thinking about the Agriculturals as of late. I myself trade the front month Hogs contract in the pit everyday. We're obviously seeing some hesitation in the commodities because of CFTC talking about more regulation that would force selling in the market. That aside, there are some great opportunities emerging. First of all, Wheat is beginning to look very interesting. There is absolutely little reason to be holding short the CBOT, KBT, or MGEX wheat contracts. I would say there is a good chance that speculative (non-commercial) interest begins again occuring in the market like we saw in February and March (what we call The Wheat Craze). We're still seeing worldwide demand kick up and prices are bottoming out here. I'm now long the September Wheat contract after we saw a heavy sell-off today into the close. Some other locals are beginning to slowly build a position in the September Wheat, along with a little in the July. Second, look to start getting short the August Lean Hogs contract. The pit is overly short the June/July contract and usually we'll start having some rollover their positions to August. We're in a narrow trading range across all the months so I'd consider shorting above 0.7900 per pound (LH trades in 40,000 lb. contract increments). The 15-year seasonal patterns shows that the August contract sells off in Mid-June and then starts rallying in the end of July, so that would be a good exit point. Another historical seasonal spread is in the Soy complex, going long 2 Soybean Meal contracts and short 3 Soybean Oil contracts. I put this spread on yesterday in the afternoon, and I already seeing it increasing in my favor (SM going up, BO going down). This is a historical trade that goes back 15 years, working 100% of the time if put on around this time of the month. If anyone has any questions, feel free to throw them my way in this thread or through a PM.