Since the Market for deliverable stocks of KC Wheat is TRADING HIGHER than the futures and the VSR is DESINGED to FORCE CONVERGENCE.. then futures should TRADE HIGHER.. correct?
( https://www.ams.usda.gov/mnreports/sj_gr110.txt )
St. Joseph, MO Fri, Nov 24, 2017 USDA-MO Dept of Ag Market News
Kansas City Daily Wheat Bids, FOB Track, dollars per bushel
Futures 4.1300 Change (¢/bu) Basis Change HRW Wheat: Ord Protein 4.6000-5.8800 DN 8 47z to 175z UNCH 12 Pct Prot. 6.1000-6.4800 DN 8 197z to 235z UNCH 13 Pct Prot. 6.8100-6.9600 DN 8 268z to 283z UNCH 14 Pct Prot. 6.8300-6.9800 DN 8 270z to 285z UNCH SRW Wheat NQ NQ NQ NQ White Corn NQ NQ Cash bids reflect the difference between the basis and the futures settlement.
Edited by JonSCKs 11/27/2017 07:32
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