Market mover

[malleefarmer]

I bought back my sold futures positions which were done in February today nice profit via bank swaps

wonder if if the hedge funds will notice and follow suit

[errolanderson]

mallee . . . strong risk management move shorting this market last winter. pure ol 'put options' have worked well for growers here.

ironically, funds are still long U.S. corn, but net short soybeans and wheat.

canola cash here is hard hit by weak harvest basis levels. expect modest cash canola support near-term, but are soybeans at the bottom yet? cash market stateside still feels like a train-wreck

malaysian palm oil has had the worst month pricewise in more than 2 years, so funds aren't getting any bullish push from the global veg oil market . . . at least not in current market environment.

[malleefarmer]

my rationale was Ukraine issues, most of bearish news factored in, quality issues across the world decreasing aussie crop daily. Many of my farming coherts here in Australia with almost same sold position are holding there hedge

[malleefarmer]

as the y say "if you try to pick bottoms you only end up with smelly fingers"

[malleefarmer]

and errol that was another reason record shorts in wheat and beans I believe some time they will exit there positions and moves things northwards

[Hopperbin]

Malle just wondering how much profit you looking at? Now you still have grain to sell. As for wheat your crop comes off starting oct. Correct? How will you handle it. Store on farm or deliver to terminal storage? Or something else?

[Hopperbin]

Or do you think your short of actual product?

[mbdog]

Mallee...you said you bought back sold futures done in Feb....what commodity and which month?

[errolanderson]

Can't get bullish wheat right now as U.S. dollar is on-fire.

Russian Ruble is at an all-time low to the U.S. buck which is giving Black Sea wheat a huge advantage in global markets.

[fjlip]

So the WAR is good for Russia/Ukraine wheat and costing us money! Here we go again farmers paying for another war!