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Senior Advisor

China buys 650,000 tns US wheat

This confirms that last year's crop quality must have been horrible due to scab or other diseases. There is some agreement that quantity was not the problem. Officially this purchase is to replenish reserves.

 

There's some predictions China needs/wants more and believe this is a good pricing point.

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Senior Contributor

Re: China buys 650,000 tns US wheat

    This is a good pricing point.Porland has been within 15 cents Aug 2013-Aug 2014.That seems to be the old $3.40 level most of the years  back through the nintys up until 2006,(yearly swings from$3.40 to $3.90) 50 cents to 60 cents diff highs to the yearly low.Now those swings are as in comparison to the base line of low 7s in the same increments of $1.00 to $1.50.Kinda looks like pricing could be at least $8.70 Aug before the end of the harvest season,and that is if nothing happens,Although I think it aready has.

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