Thanks Melville,
Your explanation is good, and if correct seems to explain recent moves. Currency and wheat futures volatility seem to have declined somewhat in the last few days. The $Cdn has fallen, and so has Minni wheat futures. The 90% EPO is now back down to $2.00/MT.
Melville, do you suppose the CWB is managing risk the same way for the $$ remaining in the pool accounts from sales already on the books? If they do, how much would you estimate they mitigated the $Cdn increase in last year’s pool? They claimed the increase cost the pool $12.25/MT.
Your explanation is good, and if correct seems to explain recent moves. Currency and wheat futures volatility seem to have declined somewhat in the last few days. The $Cdn has fallen, and so has Minni wheat futures. The 90% EPO is now back down to $2.00/MT.
Melville, do you suppose the CWB is managing risk the same way for the $$ remaining in the pool accounts from sales already on the books? If they do, how much would you estimate they mitigated the $Cdn increase in last year’s pool? They claimed the increase cost the pool $12.25/MT.
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