Why is Wheat so strong today???

[noreaster]

???

[farsider]

Talk of export restrictions coming out of Russia . Also same talk coming out of Argentina with corn.

[Canuck_2]

Hard to keep track of all the changes.

Some are shutting down exports and this from a buyer who sends me an email every day with a little 'talk' in it.

Today he notes that 'Corn exports out of Ukraine now total 4.2 million tonne Oct through Dec versus only 1.4 M.tonne during the same time last year.

Total exports could reach 12 M. tonne versus 5.1 in 2010/11'

[marketeye]

farsider,

You are correct sir. The general talk, from the floor, is that Russia is buying some U.S. milling wheat. How much is not known yet.

Mike

[sw363535]

Mike have read both---on wheat (Russia)---export restrictions and looking for quality to buy.

[Hobbyfarmer]

My two cents worth: :

1) the corn crop was not, and is not out there. The price went up today and the locals seemed to have misplaced another 2 cents basis also. January and we are now with a - 5 cent basis...probably a record low basis here in South Podunk Country Ioway for this time of year. also not going to be an abundance of corn availiable in the southern Hemisphere either.

2) wheat is going to keep pace with corn if for no other reason than as livestock feed. Human food grade is going to be priced at a different level than the board price due to scarce supply.