Thursday, June 5, 2003

Trying to make sense of this week’s price hike to $1.67, my guess is that the Chicago Summer Premium, which starts to appear in May, really kicks in come June. Looking at 2002 daily numbers seems to bear that out. I am gathering more information about this for my next post. For now, the only way we get a third price hike next week is if futures prices jump again tomorrow.

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