|December 5 Dan Maltby Marketing Newsletter
Hello Kansas Wheat.
I’ve written the current pattern has been for the deferred KC wheat months to just sink to the level where the expiring options were trading…and KC March did that very thing this week.
We’ve seen it many times, as this “continuation” chart of the KC “active” front month shows. Going back more than a year, KC Dec15 became the lead month, and sank to where the Sept15 had been trading, then the March16 became the lead month, and promptly sank to where the Dec 15 had been trading…before going on to set new lows. This was repeated by the KC May16, then the KC July16, then the KC Sept16, and the KC Dec16, and now, guess what?
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