Separating the Wheat from the...Corn?
We like being long ZW_F vs. short ZC_F as both a short-term trade and and longer-term play. Corn has experienced a resurgence thanks to the huge rally in CL_F prices while wheat have found rock-solid support at $490 per bushel and reclaimed an uptrend line going back to last March. Ratio should be 3:2 in favor of corn contracts.
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