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Ontario's middle east | Looks like there was six deliveries but yes the z/h went inverted. I am far removed from the delivery process but I guess the theory goes that if you are long standing for delivery you can get a warehouse receipt but if the cash market is stronger, then the short is going to buy the z/sell the h strengthening the spread. That let's him sell physical to the stronger basis of the cash market instead. If the long didn't get the physical he wanted he has now essentially "bought lower" in the March contract. So, yes a friendly thing but not sure that it is very predicative of futures gains....it is saying basis is strong.
Edit: looks like I got a bad report, 92 deliveries
Edited by Maizeing 12/15/2015 03:04
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CZ15 expiration?
