you may be able to explain the implications of what's going on here better than I - ALL I know is this indicative of 2 mkts which are expressing extreme near term s/d tightness.
the May/Jul bean spread is +42 since Apr.5 . flat May is only + 62 since then.
the May/Jul corn spread is +13^4 since same date. flat May is only + 12 since then.
-----something is going on-------------anyone????
Seems to me you answered your own question; tight supplies. Commercials are setting up to take delivery of the May futures contract.