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Buxton ND | Jon,,,think your pulling at strings here.
"Ethanol hasn't gotten as cheap.. because.. sellers do not have to sell at those levels.. and besides we're going higher anyway.. so ethanol will fill storage first"
Ethanol IS CHEAP, ZEG closed the month @ 1.37 we have to go back to May 2005 (pre RFSA time) check the chart below. I've said many times E traders are living in La La Land smoking weed,they are starting to pay attention to the real world of energy. As for as everything going to heck in a hand basket, corn has lost nearly .50 in the last month. Ethanol has lost .20 in this same time frame x 2.8 is .56 per bushel. Filling the ethanol storage will do nothing to help this.
Now I did buy ZCZ $4.80 calls on Friday, call options NOT futures, lifted hedges a couple of days earlier (yes that was really bad timing of) Buying those calls, maybe a hunch here or maybe its just that the NAT crabby paddy index just got really crabby this week, REALLY FAST............. Combine that with end month end trading goodies and I wanted to do the opposite ! ! !
Chart is a ZE monthly
Take out the 2 railroad spikes (shipping of E) from this spring and the trend here is pretty clear guys.
 (ZE ~ Monthly_01312015_105550pm.png)
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 ZE ~ Monthly_01312015_105550pm.png (65KB - 126 downloads)
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