Wheat this week

[malleefarmer]

In australia we can either sell wheat foward or wheat swaps with bank same as selling futures no margin calls banks hadle that and it bought back at profit and paid to the bank at that time or collected.

So will the market take a breather and assrs the situation or is it over done jag farms will know soon,the russian situation. And usa and canadain to dry and maybe to wet, but one or two good rains or a change in market sentiment we could be in down trend again.

Foward physical prices should be around $256-$260 dec delivery port basis and swap prices march 13 maybe $270 even 272/3 today as our dollar is heading south as well.

In 2011 prices hit $290 to $320 for about a 10 day period as always farmers wanted more and it fell away sharply.

I will increase my sales up to 25% of my minimum expected production this week no more as we live in marginal cropping country due to high frost risk during flowering.

Better to sell in top 20% of prices rather than aim for top 5%

[BreadWinner]

I'm going to strap on my seatbelt to ride this baby
out. Prices going up when US is starting to
harvest??? That tells me there is allotrope upside
potential. Willing to take the risk still sitting on last
years crop.

[crusher]

Looked like we were running up against resistance in the kc wheat but it blew right through. Might as well wait until the next level. Minnie still has a ways to go. Just thankful I guy can make profitable sales again.

[malleefarmer]

im waiting for cottons now famous catchphrase "were off to the moon"

[hedgehog]

first cut wheat in US must be poor!

[cottonpicken]

A bounce off 6 was the most obvious technical
thing,but the size of the bounce and speed was
awesome,we've been sideways for over a year now
and its been a pretty boring market.

Crusher is right ,it was great to see 7 fall,but a firm
uptrend has not been established.