The Variable Storage Rate (VSR) concept in Chicago Board of Trade (CBOT) Wheat futures examines nearby calendar spreads to determine adjustments in contract premium (storage) charges. The July – September wheat calendar spread averaged 134.6% of financial full carry during the period of May 19, 2010 through June 25, 2010. Since this result is greater than 80% of financial full carry, the maximum premium charge that a wheat regular warehouse may charge holders of its outstanding shipping certificates will increase from 16.5/100s of one cent per bushel per day to 26.5/100s of one cent per bushel per day effective July 18, 2010.
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