Wheat contango and other ags

Prices of many ags continue ripping higher.  Any trend-following system would be long a bunch of them and raking it in lately.  In constrast, wheat is struggling to make any headway as the contango widens even further.  Stay short long-dated wheat futures and long other long-dated ag futures

Wheat spread - Minneapolis against Chicago

Minneapolis wheat is generally higher quality than Chicago wheat, as reflected in the long-term spread in which Chicago normally trades at a discount.

Right now the Dec contract spread is bouncing off of fairly abnormal levels:

Looks like a good time to jump in and risk a little bit on the spread.  Always remember that spreads can get way more extreme than you can imagine.