|
| Cz24 is price of corn today. Cz25 is price factoring in supply and demand for 2025 crop. Two different things. When nearby is way oversupplied then the spreads will be at big carry because market doesn’t want crop now and pays to store. When nearby is in low supply, like in 2022 there is typically a big inverse where nearby is worth significantly more than deferred. The current export demand has made the spread come in. | |
|
old crop vs new crop spreads
