|
ND |
The Mpls March wheat contract was reportedly trading as much as $1.50 ABOVE the 30 cent limit higher bid in the options market. In addition, spring wheat basis levels are also going through the roof as the market is trying to buy spring wheat and can’t find much out there. The North Dakota Mill and Elevator, owned and operated by the state of North Dakota, announced today they will try to buy spring wheat from Canada for the first time in history. That is a clear indication of just how tight the situation has gotten. What’s m ore important is that it is still only early February. There will be no new crop spring wheat in the pipelines until August. The Minneapolis Grain Exchange also announced they will be expanding the daily trading limit for wheat to 40 cents (from 30 cents). Other exchanges will follow. | |
|
HRS from below
