Are you trading spreads? Today we have had several opportunities to trade spreads in the Soybean and Soybean Meal. As we approach the middle of planting season the crop progress reports are closely watched on Monday afternoons to determine if there are areas of concern with the Ag markets. Today corn was reported to be 62% planted verses 63% average. Also, soybeans were reported to be 35% planted verses 25% average. The first chart will show the past price movement for the Soybean Meal Spread which we entered today. The second chart will show the ongoing Nov/July Soybean spread that we entered into about 6 weeks ago. There are several other opportunity trades ahead that I will cover later this week.
As we progress in the growing season we will be looking for additional opportunities in these markets along with additional potential seasonal trades in Crude and Gold
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