Spread Update – 2025-12-10
The Jan/May corn spread traded into an inverse briefly last week. This spread trading into an inverse post-harvest is relatively uncommon. At this time last year, the Jan/May corn spread was trading at a carry of 100 yuan per ton.
The May/September corn spread also came close to trading at an inverse last week.
The Jan/May soybean meal spread rallied to the highest inverse since September. January meal prices have been relatively steady over the past week, but there ...