Wheat Limit Up AGAIN (+60 cents)

[newtrader8]

Up 60 cents.

Was in a spread of Long Mar/Short May. Covered the short MAY when it was up 45, now basically long 1 ZW of the Mar futures.

Looking at 29,400 bid for the Mar contract. Unbelieveable.

 

[janvir19]

i thought the daily price limit was 30 cents? how is it up 60?

 

[startraitor]

They raised it this week. Read the exchange limits.

 

[TheDudeofLife]

The CBOT, MGEX and KCBOT raised there limits for wheat starting with tonights session.

http://cmegroup.mediaroom.com/index.php?s=43&item=689

The March MGEX wheat contract was synthetically trading, via the options market, over $20 on Friday, which was $5 higher than Thursday's close.

 

[Rearden Metal]

I don't trade grains (or ags at all, for that matter), nor do I understand them.

How does a sudden wheat shortage develop in the middle of winter? Bad crops in the Southern Hemisphere?

 

[battle river]

im surprised they didnt crank up the margins also

on another note greed should be kicking in soon

 

[monstercat]

is the symbol for the wheat etf weat? that symbol won't come up

 

[JamesVU2000]

"I don't trade grains (or ags at all, for that matter), nor do I understand them.

How does a sudden wheat shortage develop in the middle of winter? Bad crops in the Southern Hemisphere"

There is no off switch for fiat money

 

[tr51]

Wait and see what happens to corn once wheat trades down. Ags have a nasty habit of going down a lot faster than up.

 

[The Kin2]

It's trading down right now