Going down, I think the Grains been over priced for years all because making corn into ethanol fuel, all grains went up, I been buying Wheat looking for bottom, if it takes out lows of Aug, might go down much lower. It is like Orange Juice, trying to find the highs, hoping week ago was it.
Ag trade ideas
- Thread starter TraDaToR
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Going down, I think the Grains been over priced for years all because making corn into ethanol fuel, all grains went up, I been buying Wheat looking for bottom, if it takes out lows of Aug, might go down much lower. It is like Orange Juice, trying to find the highs, hoping week ago was it.
I don't think he was referring to it going down today.
Do you believe in the reasons of one way or other is worthwhile to know?
Isn't it more often a fairytale of the "whys" and formed by brokers or analysts? I stopped back testing COT long ago as small retail is generally wrong in direction and they don't have the volume to push market. Fundamentals can't test, but not knowing would only confuse me and it don't take much.
Happily Wheat went up nicely.
Holy Mackerel Mr. emg is back, so am guessing you in corner sweeping up the 90%?
I was speaking more to yesterday's ~4% move higher. I was particularly surprised by the velocity of the move. Looks like a short squeeze, but I am curious if this was an isolated incident or the beginning of a large unwind that could push wheat out of its recent channel and back into the mid 400s.
Only thing I heard from a grain friend was something about a squeeze in Minneapolis wheat.
https://www.ams.usda.gov/mnreports/sj_gr850.txt
Cash bids were mixed today, as corn bids were lower, soybeans higher, and
wheat mixed. Weekly export sales and shipments for wheat may be viewed as
bullish, as they totaled 13.9 mb and 25.7 mb, respectively.
Cash bids were mixed today, as corn bids were lower, soybeans higher, and
wheat mixed. Weekly export sales and shipments for wheat may be viewed as
bullish, as they totaled 13.9 mb and 25.7 mb, respectively.
Milling wheat dives into the abyss. Chi wheat increased storage rates to 0.00365$ per bu per day on Sep 19. KC wheat is near full carry. The only kinda bullish market is Minneapolis, so the front month spread can be a good short in November before first notice. Seasonality + overall bearish wheat.