After surpassing the 30-year high and touching the $9.00 per bushel mark last week, the Chicago Board of Trade Wheat contract retreated, but remains at historic highs. More remarkably, despite the demand for ethanol, the spread between corn and wheat has grown to more than twice its high over the last 13 years.
How long this spread can stay at such levels before reverting to mean is unknown but it certainly looks like an opportunity.
Fed’s Dudley says labor market slowdown would tilt to easing
Federal Reserve Bank of New York President William C. Dudley said he would favor additional easing if the labor market falters or risks to growth were to rise substantially.
ProShares launches ETF that targets highly rated corporate bonds
The ETF invests in covered bonds, a type of collateralized corporate debt typically issued by non-U.S. financial institutions.
Euro falls to 22-month low as German business confidence slides
The euro traded close to the weakest level since July 2010 versus the dollar as German business confidence slid and manufacturing shrank, stoking concern fallout from the debt crisis is spreading.
Crude options volatility rises as futures near $90 a barrel
Crude-oil options volatility rose for the first time in three days as underlying futures slipped below $90 a barrel.
