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Ontario's middle east | SG, I was talking about unwinding corn spreads. If you remember I was telling you to move hedges from Z out to N when carry was 23-24. Recently it has traded around 18 so you could sell the corn basis dec and take the spread off at a 5-6 cent gain. Probably not enough yet to motivate one to dump all their inventory but you get the picture of what happens if the carry continues to weaken(come in). On beans, there was some modest carry from x to f but after that I say let it invert ..... I have zero interest in holding beans. In fact I just bought another truck and set of super B's to make sure they are gone if there is a good push before the water gets stiff. Locking some inversion in would be gravy. | |
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Maize or Ray
