Long Corn, Short Wheat Spread

Dennis Gartman on CNBC made the case to decrease wheat positions, increase corn positions, and decrease soybean positions. The belief being that winter wheat (already in the ground) is known, and that any problems with corn, such as delays in getting it into the ground, will cause problems due to the current demand. Current rain is causing some of these delays. Since soybeans can be planted later, supply should be fine. Therefore, a potential spread position is to be long of corn, short of soybeans.