In seriousness, another 50 cents up and you can make a bunch. Or at least I can. This wheat thing doesn't usually go up, but the USDA # surprised everyone. Didn't everybody say wheat carryounwas going lower on jan report? And it web higher??? It's pretty funny that nobody knows what wheats gonnna do! I am of the mind that the short side is the most likely to win hand long term, as always.
Wheat plays back and forth chart $1.20 thes days,Same as the old back and forth of .60c of the decades ago level.The low was in,for this is winter and now a few little fundementals for the trade to make gains.As I have said in earlyer post $4 corn is the same as your fathers $2 corn.Any one that does not see this is simply out of context with inflation!
$4 corn might be the same as our fathers' $2 corn, and with costs where they are it needs to be,-but getting the end users on board with that is going to be tough to do. I agree with you, but, some folks are going to be hard to convince!
Yes the Cat lives. Need a good close over 6 bucks Chicago wheat. Its trying to claw its way out. Seasonally we get a good bump but im not friendly long term.
Been out of touch as I 'cat' around the deserts of the SW.
All I can say is ' Patience grasshopper!' Keep your eye on the major trends of production/consumption/ and to some degree, ending inventories. There isn't much going on that is definitive at this point on a day to day or week to week basis except export inspections. But in the longer run we are accumulating trends.
