Grains To The Moon
- Thread starter myminitrading
- Start date
Wheat will be upwards of 10 per bushel.
it will reprint a new high 10 seems unlikely although i did take a massive loss on some naked options in fear of it tocuhing ten. The short covering rally is hopefully over, ill find out tuesday on the COT. I think im probably one in a thousand that is bearish wheat, buti think that the spread between wheat and corn (july) will narrow to under 50 cents or a dollar by july. they planted an unbeleiveable amount this year. I think March wheat is being ran up and is gonna break around 9.60 to 10.00 like it did last time. Argentina delaying exports for another fifteen days was bad for the short term bears (me) but ultimately when they start dumping it on the world market it will send march wheat down where it shopuld be. But right now buy it while you can, and make some money both ways when it starts to drop. happy trading
wheat is one of the few commodities that has preserved its relative strength with measured retraces, and huge gaps up.
what do you see wheat doing? i do agree with you to a point but im telling you wait until argentina starts flooding the market with exports ina month or so. 10.00 wheat is outrageous man, wheat is a very fundamental market and i see it very toppy aroudn 9 to ten. it didnt hold at 9.60 before why would it now? there is so much wheat in the ground its unbelievable, trade the seasonals they work every year and they wont fail to this year