New Crop Wheat, Corn, Soy

[Ridu]

Hi, can anyone please tell me which futures months relate to 'new crop' wheat, corn and soy? Are all the grains 'new crop' months the same?

Many thanks
Ridu

 

[jimbohanna]

Check out this site:

http://www.cbot.com/cbot/pub/page/0,3181,2144,00.html#3

Scroll down to "Intra crop year spreads" - they have the marketing years for all the cbot commodities.

 

[tns4774]

New crop KC and Chi wheat is July (N). Minneapolis is September (U).

New crop soybeans is November (X) and new crop corn is December (Z).

 

[Ridu]

thanks for the replies, that's a great help.

so I'm bullish corn, soy over the next few months to a year, but I'm trying to figure out where on the curve to buy...

I gather there's acreage problems going into late 08/09 (new crop), with soy, corn competing for space against cotton, wheat, rice etc. I also understand china is planning re-building reserves at the moment, specifically of soy & soy oil.

So with that in mind, it seems both near & far should appreciate...

I'd wanted to do bull spreads but given acreage problems going into next year I thinking it's not such a great idea...

long only across both old & new crop then is the best I can come up with. would be very grateful for any thoughts from those wiser and more experienced on how best to approach this.

Many thanks
Ridu

 

[tns4774]

If you're that bullish, buy futures and buy a cheaper put in one of the closer months to protect in case something goes haywire. If you're right in the long run and we continue to scream higher, 10 or 20 cents in option premium to hedge your futures position will be miniscule.