Wheat Limit Up AGAIN (+60 cents)

Discussion in 'Ag Futures' started by newtrader8, Feb 10, 2008.

  1. Up 60 cents.

    Was in a spread of Long Mar/Short May. Covered the short MAY when it was up 45, now basically long 1 ZW of the Mar futures.

    Looking at 29,400 bid for the Mar contract. Unbelieveable.
     
  2. janvir19

    janvir19

    i thought the daily price limit was 30 cents? how is it up 60?
     
  3. They raised it this week. Read the exchange limits.
     
  4. The CBOT, MGEX and KCBOT raised there limits for wheat starting with tonights session.

    http://cmegroup.mediaroom.com/index.php?s=43&item=689

    The March MGEX wheat contract was synthetically trading, via the options market, over $20 on Friday, which was $5 higher than Thursday's close.
     
  5. I don't trade grains (or ags at all, for that matter), nor do I understand them.

    How does a sudden wheat shortage develop in the middle of winter? Bad crops in the Southern Hemisphere?
     
  6. im surprised they didnt crank up the margins also

    on another note greed should be kicking in soon
     
  7. is the symbol for the wheat etf weat? that symbol won't come up
     
  8. "I don't trade grains (or ags at all, for that matter), nor do I understand them.

    How does a sudden wheat shortage develop in the middle of winter? Bad crops in the Southern Hemisphere"

    There is no off switch for fiat money
     
  9. tr51

    tr51

    Wait and see what happens to corn once wheat trades down. Ags have a nasty habit of going down a lot faster than up.
     
  10. It's trading down right now :confused:
     
    #10     Feb 10, 2008