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eastern Nebraska | I don't trade wheat much, so please excuse the ignorance... I keep hearing that while there's a lot of wheat around, there's been big premiums paid for high protein wheat. Is that what you guys are seeing in the cash market? If so, don't the futures have a protein specification that has to be met? I don't know what exactly the specs are, or how bad the off-quality wheat is out in the country... but is it possible for futures to rally based on a shortage of high-pro wheat, even though total "supply" isn't super tight? I mean, if there's really a shortage of high protein wheat, why wouldn't the commercial stand in for delivery?
Thanks in advance for any insight. | |
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Question for the wheat guys who are familiar with futures...
