Got Wheat ?

[countryBoy641]

even with the crosses, It seems more like it is going to hover from 7.1 to 7.9 for quite some time.

corn and soya have been on the uptrend.

It seems to have formed a mountain peak
and it is going to the base camp.

the downforce momentum seems to be strong.
How low will Wheat futures go?

****

Not that I can predict where the current spike blast of WEAT will correct to, I am quite certain that it has plenty more upside to go.
And I am only posting this as I am very unimpressed with the very weak TA challenges I get here. It's like nobody here is seriously trying to make money.
And those "traders" satisfy themselves with scalping with a few pennies here and there.
Right now, I have nearly a double in my WEAT swing trade.
Good for me. Nobody else cares.
Is everybody here living in "Mom's basement" ?

My current chart on WEAT, just the RSI (5 period) monthly.
This view is showing power ("gas in the tank")
WEAT strong this morning.

 

[countryBoy641]

Depends on the war in Ukraine. TA that. HAH!

That's another silly statement, indicative of somebody sheltered in their own protective cocoon.

Do you think that the commercial buyers of WEAT (and all AG softs) don't use any TA?
Do you really think that Pillsbury, Conagra, Cargill and Archer Daniels don't have TA people? A TA department, and trading desk.
Please wake up.
***
Off topic, but I remember reading years ago that the CEO of Coke worked his way the top as a FOREX trader. These companies do have PCs and internet connections.
***
TA is all thrrough the industry, but not talked much.
Many years ago, I interviewed for a TA job at the USDA.
The big account (trading partner) was Saddam Husein.
I didn't get that job (fortunately) and Saddam lost his.

 

[maxinger]

****

Not that I can predict where the current spike blast of WEAT will correct to, I am quite certain that it has plenty more upside to go.
And I am only posting this as I am very unimpressed with the very weak TA challenges I get here. It's like nobody here is seriously trying to make money.
And those "traders" satisfy themselves with scalping with a few pennies here and there.
Right now, I have nearly a double in my WEAT swing trade.
Good for me. Nobody else cares.
Is everybody here living in "Mom's basement" ?

My current chart on WEAT, just the RSI (5 period) monthly.
This view is showing power.
WEAT strong this morning.

View attachment 281306

1. wheat price went up end Feb 2022,
after it has moved sideways for weeks.

congrats to you as you have taken a long position.


2. overall, I don't think it is bullish anymore.
This is my view and it might be wrong.
Anyway, you should stick to your own analysis.

3. I do day trading with no indicators ( I used to have hundreds of them).
I seldom day trade grain futures
due to its horrific tiny day range.
since end Feb 2022, wheat futures has been moving and
it was good for swing traders.


all the best mister.

 

[countryBoy641]

1. wheat price went up end Feb 2022,
after it has moved sideways for weeks.

congrats to you as you have taken a long position.


2. overall, I don't think it is bullish anymore.
My view might be wrong.
Anyway, you should stick to your own analysis.

3. I do day trading with no indicators ( I used to have hundreds of them).
I seldom day trade grain futures
due to its horrific tiny day range.
since end Feb 2022, the wheat futures day range has widened.

all the best mister.

Does that mean that you don't want me to post these swing trade pics here anymore?

Usually you have only very harsh criticisms for my chart pics.

 

[maxinger]

Does that mean that you don't want me to post these swing trade pics here anymore?

Usually you have only very harsh criticisms for my chart pics.

You are getting too emotional.

there is nothing offensive about your posts.
so do continue to post it.

also, there is nothing offensive about my posts.

we trade differently.
it doesn't mean I am right you are wrong.
it doesn't mean you are right I am wrong.

Do keep that in mind.

 

[countryBoy641]

You are getting too emotional.

there is nothing offensive about your posts.
so do continue to post it.

also, there is nothing offensive about my posts.

we trade differently.
it doesn't mean I am right you are wrong.
it doesn't mean you are right I am wrong.

Do keep that in mind.

No, you have posted lots of stuff replying to me that was totally dismissive.
I could go back and find them, but stuff like,
"Next time, post something useful"
or "Do your homework better" ...
You shouldn't post things like that, completely out of hand.
It also invites younger people to take the same dismissive attitude.
Extremely non-productive.

 

[easymon1]

****

Not that I can predict where the current spike blast of WEAT will correct to, I am quite certain that it has plenty more upside to go.
And I am only posting this as I am very unimpressed with the very weak TA challenges I get here. It's like nobody here is seriously trying to make money.
And those "traders" satisfy themselves with scalping with a few pennies here and there.
Right now, I have nearly a double in my WEAT swing trade.
Good for me. Nobody else cares.
Is everybody here living in "Mom's basement" ?

My current chart on WEAT, just the RSI (5 period) monthly.
This view is showing power ("gas in the tank")
WEAT strong this morning.

View attachment 281306

How much is weather factoring into the wheat supply situation currently?

 

[countryBoy641]

How much is weather factoring into the wheat supply situation currently?

Weather?
I think next to nothing, no effect on prices.
What is driving the bull in AGs is
1) Price of fertilizers (Price of $NATGAS in China)
3) price of diesel fuel
2) Ukraine confrontation

Best analysis I have found regarding this environment is a very unlikely source.
A guy who interviews as "Doomberg" the green chicken.
This guy is extremely well read.
I think he's a chemical engineer by trade.
This is yesterday on George Gammon
Doomberg (Food Prices Going Way Higher, Commodity Super Cycle, Government Unintended Consequences)

LOads more vids od his recently.