Grain market mystery solved
Urbana IL (SPX) Jan 07, 2015 - Something extraordinary happened in the futures grain market beginning in 2005. The cash price and futures price, which normally converge by the time a grain contract matures, weren't coming together. Instead, they were moving farther apart--and not by just a little. By September 2008, the wheat futures price was an unprecedented $2 higher per bushel than the spot price in Toledo at delivery. ... more

---