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Short ZW K19/U19 @ -16.75. - SRW will be in less demand than high protein wheat later in the marketing year. - Acreage should at least stay the same next year. - Seasonals

Yes. I know the supply picture of ethanol isn't going my way, but the overall energy bullishness and news are supportive.

Long EHZ18-2*ZCZ18 @ 581( notional ). - Profit margin on ethanol crush without DDG is almost null. - Ethanol/RBOB Gasoline reversing. - E15 year round.

https://in.reuters.com/article/column-russell-china-usa-energy/column-u-s-energy-exports-to-china-plummet-as-trump-trade-war-bites-idINKCN1MS0FR "Perhaps the irony of the collapse in China’s energy imports from the United States was that this was the area most likely to deliver Trump’s...

Out @ -2.25 on a gut feel that now that oct is expired, Z/H will move freely and possibly go down again.:)

Out @ -15.3. We are getting too close to expiry on feed wheat.:)

Last 1/4 at 12.6. Best swing trade 2018 so far. The 1/4 liquidated last week was an error though.

Long ZL Z/F @ -0.22. - The rally in energy may propagate to biodiesel and soyoil. - Seasonals

Out 1/4 again @ 10.525. I think this will be my best trade of the year. I took a good chunk of that bull move.

It's a feature of Seasonalgo forward curves. I guess they just do an average of the spread over x years and make the difference with the current value. Like if ZWZ18/H19 =-19 but the average value of it over 10 years is -21, then the deseasonalized curve will show a +2 inversion. I guess it is...

I am wondering if we are not at the beginning of a new volatility era in natural gas : - The deseasonalized curve is really bullish into mid'19, moderately bullish into mid'20. - The spreads have really moved upwards since mid september. - Outright prices( z18 for example ) have broken their 2...

Short ZL May/Jul/Aug19 butterfly @-0.14. - Curve too flat around those expiries - High historical level

Out @ -11.75. Usual outcome for a usual trade.:D

Out@ -3827.6. Even if the level is still low, the delivery period and its volatility is getting too close. Still a little gain.

Are you talking about trading or corporates in general? VAT on capital gains( P&L)? Does that exist in some countries?

https://www.reuters.com/article/us-nordic-power-nasdaq-exclusive/exclusive-danske-commodities-cuts-its-position-on-nasdaqs-nordic-power-exchange-after-traders-default-idUSKCN1M62JD

Out@ -1.2. Nice.

Does anyone understand why China's decision to tax US LNG had such a bullish push on NG spreads on Sep 18th? I am missing something...

Long MW Z18-H19 @ -14.75. -Low level. -Lack of high protien wheat around the world. -Seasonality.

https://www.reuters.com/article/us-nordic-power-nasdaq/nasdaq-says-nordic-trader-whose-deals-went-sour-agrees-to-sell-personal-assets-idUSKCN1M12K0 Ouch