Cornering in Minneapolis Wheat Market?

Quote from ProfLogic:

With these markets making HH's consistently since July off every extreme oscillation, what was the reasoning to short?
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I was not exactly short.
I was into a calendar spread between march and july, and stopped fortunately with a few point of loss three weeks ago another athypical spread between Chicago March and Minneapolis March.
I opened the thread not to dubitate of grains bull market, but to understand what the hell is happening on Minneapolis old crop.:eek:
 
Quote from Matt12:

I was not exactly short.
I was into a calendar spread between march and july, and stopped fortunately with a few point of loss three weeks ago another athypical spread between Chicago March and Minneapolis March.
I opened the thread not to dubitate of grains bull market, but to understand what the hell is happening on Minneapolis old crop.:eek:
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Sorry, misunderstood.

Regarding the crop . . . there wasn't enough.
 
funds love grain markets, there are several "long only" funds and the best thing we small traders can do is go pick up a few pieces that these guys leave behind, and trust me a small piece to these guys is alot of money :) Followo the trend, run tight stops and sit back and enjoy the ride guys we are living history. You will tell people about this someday
 
look at open interest: down over 2000 contracts yesterday and prices goes on climbing!
It' s one of the most incredible short squeeze of the history!
 
how does buying a 1 week put option in nearby expiring March sound? I can't help but think the risk/reward in an OTM put could be fantastic if we get a reversal next week.

problem is , how to fill and what to pay. Was thinking of 1600 Mar puts and bid 3.5c today but was unable. Pit settled the contract lower though but we all know about funky settlements in options.

hesitant to go in with a market order too and get a horrible fill.
 
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