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Who's buying all those wheat options?Who's buying all those wheat options?

Futures try to recover at the end of bruising week. (audio)

December 2, 2016

1 Min Read

When it comes to trading volume wheat generally takes a back seat to corn and soybeans. But that wasn't the case with the most popular wheat options contracts, those for the soft red winter class. Their volume exploded on Thursday, when nearly 35,000 new positions were opened, with total volume topping both corn and soybeans. The move comes as wheat made new contract lows amid signs that the cost of those options, measured by implied volatility, may be making a seasonal low. Wheat is leading the market higher overnight as Wall Street waits for the latest jobs report.

Senior Editor Bryce Knorr offers his insight into overnight trade, listen using the audio tool on this page.


Bryce Knorr first joined Farm Futures Magazine in 1987. In addition to analyzing and writing about the commodity markets, he is a former futures introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Call on www.FarmFutures.com he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. His other weekly reviews on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.

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