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Central Missouri | If you want to maintain the 26 cent dec July spread but remain unhedged on cash grain and unhedged on basis just bull spread your short July futures by buying dec futures. Just prior to first notice day of dec futures roll your long dec futures into long march futures by selling dec and buying March.
You have then locked in the spread, long cash grain in the bin and subject to basis change.
I suspect that there is a lot of wheat in this country in the exact above scenario.
Edited by ehoff 10/24/2016 06:19
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