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Ontario's middle east | That's my take on it. Once the mills back off there will be enough wheat around since exports remain uncompetitive and the bear spreads will kick in. Now I will admit to a little head scratching that the recent price rout didnt generate more bear spreading. Essentially what has happened is the quality issues are being arbitrated by the cash market and the bear spreads are expressed in the discount schedules.... at least that's my theory....
Here is one of the issues with exports: http://www.reuters.com/article/2015/07/30/us-asia-wheat-blacksea-id...
Edited by Maizeing 7/30/2015 06:44
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Carry in wheat
