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NCND | 1100 margin per contract.
Ya been a real fun ride thus far.
I added a May KC over May Chicago today.
You don't add to losing positions .... thats why I did the KC over CHi :)
Spring wheat spreads use to be zero margin.
I won't make predictions but my gut tells me I'm going to get punished until they stop buying wheat and we take a breather. Could be easy to gain 10 back in a day. Have to see when it comes. Ugly close for wheat today. Chicago March was 24 off the highs.
2008 Chi had a buck premium to MW. Then 30 days later MW had a 12 buck premium to CHicago. We won't goto +12 on Minny but it is the cheapest wheat out there. Maybe by years end it turns. In meantime I'm just going to take my lumps. She has been a relentless beating.
As Ray Liotta says in the greatest movie of all time "Goodfellas",
"Every now and then you gotta take a beating." | |
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Vailcat: Wheat Spread Question
