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S Illinois | Short positions in a carry market make money with 2/3 of the market action. Market goes down, their positions gain in value. Market stays sideways, they make money on the rolls. It’s only if the market climbs higher that they loose. If the carry stays it would take a somewhat significant rally to really put them underwater. Short covering only has to come about if there really is a production problem. That’s TBD as it take a little more than some dryness in the US HRWW area. | |
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Wheat info
