2/7/17 was up +$0.64 and the model projects that the component on yesterday's kill will move up between +0.20 and +0.50. The up-trend continues. The GGGs are premium to the component by +0.43 at yesterday's settle. It looks like that will be taken out when we get the 201 report. There is a fair chance that the rising index will push the GGGs up a little more.

Packers' higher bids yesterday enabled them to purchase 93.1% of the moving average daily purchases. The low purchases last week set the stage for higher bids this week.

I'm still long the GGGs and added on the opening.

I am just about out of all my long M/N calendar spreads. They really treated me well. I still have plenty of other spreads to work with.

Best wishes,

dhm