May Wheat Expires With Mostly Uniform Convergence to Spot

Posted on May 15, 2014

Unlike soybeans, of which cash basis can vary widely at expiration, wheat futures have for the most part converged to the spot at expiration. However, May futures show a nearly textbook convergence to spot at expiration in Toledo while cash prices in the Gulf remain well outside of the ¢0.10 threshold.

Wheat convergence may 2014