on the KKKs and MMMs fool you, Ed. I have had multiple orders working to buy the K/M spread starting at 3.00 and don't get filled. I did get on filled at 3.10 a week or two ago but these settlements are not reflecting where the spread is trading.

Over time, trading the K/M spread from the long side has been mostly good to me. In 2012 it burned me a little as we moved close to cash settlement but mostly it has been good to me.

It does appear that producers can lock in profits with corn prices low and MMMs and NNNs priced near 100.

Good luck on your production, Ed.

Best wishes,

dhm