The wheat market is up double digits due to the following factors:
Wind damage in Australia causing possible quality issues
Short covering by funds with wheat representing the biggest short on the floor
Buyers looking at 29% volatility as an oportunity as seen by funds buying 3,000 WZ 500 calls between 10.5-12 so far on the day.
I disagree with todays rally but I do admit that volatility ownership in Dec is enticing.
