Re: Wheat imp[orts from EU for feed use.
It's true that psychology can be important in the market. However, understanding your industry and historical patterns is a defense against purposely misleading impressions. Especially in wheat. With the exception of the hog feeding area clustered on the coastal area of Carolina I defy anyone to identify a port where the reciept and transport of feed to any interior market would make any economic sense. There is niether the infrastructure or economic payoff to make it happen.
And yet I've heard any number of schemes for importing wheat, including hi pro from Germany - a specific rumor with supposedly specific info from a 'trusted source'. Most milling concerns are located away from ports shipping raw wheat.
In terms of psychology I like to hear these stories because it almost ALWAYS coincides with times when farmers don't want to put their grain on the market. Tight or positive basis. Ring a bell?