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 May – July wheat calendar spread averaged 96.6% of financial full carry during the period of March 21, 2011 through April 21, 2011. Since this result is greater than 80% of financial full carry, the maximum premium charge that a wheat regular delivery facility may charge holders of its outstanding shipping certificates will increase from 56.5/100s of one cent per bushel per day (approximately 17 cents per bushel per month) to 66.5/100s of one cent per bushel per day (approximately 20 cents per bushel per month) effective May 18, 2011.
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