Cotton curve gone wacko again. It's like outrights move in the front months drive the front of the curve "as is" and less liquid expiries in the back get the actual move in calendars...Dec15/Mar16 is a major sell at 40 if it opens back there...
Here it is. Almost feels like pure arb. But the problem is that another bull move like yesterday( supposedly strong export sales...? )would result in the same retarded pricing.