UZ and ZH wheat

UZ and ZH wheat

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I have been speaking about UZ and ZH wheat for a few weeks now, and how they continued trading in a manner inconsistent with July-Sep.  As July-Sep narrowed, it seemed inevitable that Sep-Dec and Dec-Mar would have to follow, as they were indicating an increase in storage rates, while July-Sep was indicating a static storage rate.  This came to pass in a limited fashion a few weeks ago, and in dramatic fashion over this past week.