Last month we did a spread trade where we bought September wheat versus selling September corn. We did the trade and sold wheat 13 cents below the price of corn at that time. As noted at that time, the lowest this spread ever traded was 30 cents wheat under corn. The December spread has come into an area where we want to once again buy the wheat and sell corn as December corn is now 20 over wheat. For the full size each cent = $50 and minis can be traded where each cent = $10

The Trade: Buy December Wheat and Sell December corn as a spread at Market (currently 20 cents corn premium over wheat)
Stop: If the wheat trades 30 cents below corn on a closing basis, exit the spread (Each cent = $50)
Objective: Look to exit the spread when wheat trade 19 1/2 cents above corn.

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