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Monday, June 21, 2010

The wheat story continues - I am a seller of Sep wheat atm puts

Subject: Canada planting ends with 82 pct done-Wheat Board


14:38 21Jun10 RTRS-
* Crop insurance deadlines pass, no more planting seen
* Smallest W. Canada acreage of wheat, barley in decades

WINNIPEG, Manitoba, June 21 (Reuters) - Wet conditions limited planting by Western Canadian farmers this spring to only 82 percent of the original planned acreage, the Canadian Wheat Board said on Monday.
Farmers are not expected to plant any more, after the final crop insurance deadlines passed on Sunday, the Wheat Board said. Crops seeded this late have a good chance of not maturing before autumn frost. Farmers are expected to plant their smallest acreage of wheat, durum and barley in decades and leave up to one-fifth of  Western Canada's farmland fallow after record rains this spring, the Wheat Board said earlier this month.
Canada is normally the world's top shipper of spring wheat, durum and canola and the No. 2 oat producer.

I am a seller of Sep Wheat atm puts - and a buyer of Sep Futures/ selling Dec Calls agains the longs thus capturing the spread as well which is too high..

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